All of the Following Accounts Have Normal Debit Balances Except

question 67

Multiple Choice

All of the following accounts have normal debit balances except:

• A) Accounts receivable
• B) Dividends
• C) Supplies expense
• D) Service revenue

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Definitions:

External Customers

Individuals or entities that purchase goods or services from a company but are not part of the company itself.

Revenue

Income arising in the course of an entity’s ordinary activities.

Entity Wide Basis

An approach to financial reporting that presents the aggregate information of all segments and activities of an entity.

External Revenue

The income that a company generates from its primary business activities outside of its entity, excluding internal transactions.