Which of the following is true about a "credit"? i. it is part of the double-entry procedure that keeps the accounting equation in balance. ii. it represents a decrease to assets. iii. it represents an increase to liabilities. iv. it is on the right side of a t-account.

ALL

Explanation:

All of the following is true about a "credit"

I. It is part of the double-entry procedure that keeps the accounting equation in balance because, double entry is made up of 'debit' and 'credit' as the principle states: 'credit the giver and debit the receiver' hence, in order for the accounting equation to be balanced, every debit must have a corresponding credit

II. It represents a decrease to assets because just like the principle states: 'credit the giver and debit the receiver', it therefore implies that a 'credit' entry will decrease the balance on the account because it is giving.

III. It represents an increase to liabilities because liability accounts already have credit balances by nature, therefore a 'credit' entry will be increasing the already existing credit balance.

IV. It is on the right side of a T-account.  This is a true statement because in T-account construction the debit is on the left and the credit on the right.

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