Examlex
Which word means double vision?
Normal Balance
The side (debit or credit) of an account that is expected to have a higher balance based on the accounting equation; assets and expenses normally have a debit balance, while liabilities, equity, and revenue normally have a credit balance.
Withdrawals
Money taken out from a bank account, or the act of taking out funds or assets from a business by the owner for personal use.
Assets
Resources owned or controlled by a business, expected to bring future economic benefits.
Debits
In accounting, entries that increase asset or expense accounts, or decrease liability, equity, or revenue accounts.
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