Which of the following groups of accounts are increased with a debit?

• A. Revenues and Equity
• B. Liabilities and Revenues
• C. Assets and Expenses
• D. Liabilities and Assets

Answer: (C)

Verified step by step guidance

1. Understand the concept of debits and credits: In accounting, debits and credits are used to record transactions. Debits increase certain accounts, while credits increase others. Specifically, debits increase assets and expenses, while credits increase liabilities, equity, and revenues.
2. Analyze the account types: Assets represent resources owned by the company, and expenses represent costs incurred during operations. Both are increased with a debit. On the other hand, liabilities, equity, and revenues are increased with a credit.
3. Review the options provided: The question lists several groups of accounts and asks which are increased with a debit. Compare each group to the rule that debits increase assets and expenses.
4. Eliminate incorrect options: Revenues and equity are increased with a credit, not a debit. Similarly, liabilities and revenues are also increased with a credit. Liabilities and assets include one account type increased with a debit (assets) and one increased with a credit (liabilities), so this is not correct.
5. Select the correct answer: The group 'Assets and Expenses' is the correct answer because both account types are increased with a debit.