Which of the Following Accounts Normally Have a Credit Balance

question 56

Multiple Choice

Which of the following accounts normally have a credit balance?

• A) Unearned revenues; Prepaid rent; Revenues.
• B) Revenues; Expenses; Retained earnings.
• C)Revenues; Cash; Unearned revenue.
• D)Accounts payable; Retained earnings; Revenues.

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Definitions:

Abrupt Increases

Sudden and significant rises in the level, amount, or degree of something.

Competitive

A characteristic of individuals or entities that constantly strive to outperform others to achieve goals or attain superiority.

Scapegoat Theory

A social psychology theory suggesting that individuals or groups are blamed for wrongdoings, mistakes, or faults of others as a means of deflecting attention or responsibility.

Scholarship

Financial support awarded to students based on academic or other achievements to help fund their education.