Which of the Following Statements Is False

question 75

Multiple Choice

Which of the following statements is false?

• A)The unearned revenue account has a credit balance.
• B)The revenue account has a credit balance.
• C)An expense account has a debit balance.
• D)A prepaid expense account has a credit balance.

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Definitions:

Creditor

An individual or institution to whom money is owed by a debtor or borrower.

Enforce a Lien

The legal process by which a creditor seeks to claim possession of a debtor's property to satisfy a debt.

Deficient Work

Work that fails to meet the required standards or contractual obligations.

Possessory Lien

The right of a person or entity to retain possession of a property belonging to another until a debt owed by the property owner is paid.