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:

Negotiating the Contract

This process involves the discussion and settlement of the terms and conditions of a contract between two or more parties before finalizing it.

Managing Outsourcing

The practice of overseeing and directing work or services to external vendors to achieve desired outcomes efficiently.

Strategic Focus

The concentration of an organization's efforts and resources on a specific, clearly defined strategic direction or goal to gain a competitive advantage.

Specialized Expertise

The high level of skill or knowledge in a particular area that sets individuals or organizations apart from others.