【多选题】This question examines your use of debits and credits in relation to accounts in the nominal ledger. Ignoring the other side of an entry, which THREE of the following are true? Incurring an expense re...
A.
Incurring an expense results in a debit to the expense account.
B.
Decrease in a liability results in a debit to the liability account.
C.
Increase in an asset results in a credit to the asset account.
D.
Decrease in an asset results in a debit to the asset account.
E.
Increase in a liability results in a credit to the liability account.