### Answer: False

1. **Understanding the Notes Payable Account**: Notes Payable is a liability account. When a liability account increases, it is credited, and when it decreases, it is debited.

2. **Reasoning**: To increase the balance of a liability such as Notes Payable, you must credit the account. Debiting the Notes Payable account would decrease its balance.

3. **Conclusion**: Therefore, the statement that "to increase the balance of Notes Payable account - it needs to be Debited" is false. The correct action to increase Notes Payable is to credit it.

Question

### Answer: False

1. **Understanding the Notes Payable Account**: Notes Payable is a liability account. When a liability account increases, it is credited, and when it decreases, it is debited.

2. **Reasoning**: To increase the balance of a liability such as Notes Payable, you must credit the account. Debiting the Notes Payable account would decrease its balance.

3. **Conclusion**: Therefore, the statement that "to increase the balance of Notes Payable account - it needs to be Debited" is false. The correct action to increase Notes Payable is to credit it.

Knowee AI · Accepted Answer

### Answer: False

1. **Understanding the Notes Payable Account**: Notes Payable is a liability account. When a liability account increases, it is credited, and when it decreases, it is debited.

2. **Reasoning**: To increase the balance of a liability such as Notes Payable, you must credit the account. Debiting the Notes Payable account would decrease its balance.

3. **Conclusion**: Therefore, the statement that "to increase the balance of Notes Payable account - it needs to be Debited" is false. The correct action to increase Notes Payable is to credit it.

To increase the balance of Notes Payable account - It needs to be Debited. True False

Question

To increase the balance of Notes Payable account - It needs to be Debited. True False

Solution

Answer: False

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