Which of the Following Accounts Has a Normal Credit Balance

question 79

Multiple Choice

Which of the following accounts has a normal credit balance?

• A) Sales Returns and Allowances
• B) Sales Discounts
• C) Sales
• D) Selling Expense

Learn the purpose and creation of the end-of-period spreadsheet (work sheet) and its components.

Comprehend the effect of net income or loss on the balance sheet and income statement preparation from an end-of-period spreadsheet.

Understand the concept of differentiation strategy and its importance in achieving competitive advantage.

Grasp the fundamentals of value chain analysis, including distinguishing between primary and support functions.

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Definitions:

Supply Chain Performance

A measure of how efficiently and effectively a supply chain fulfills customer demands and operates in terms of costs, delivery time, and responsiveness.

Incremental Variable Cost

Describes the additional costs incurred when producing one extra unit of a product, including expenses related to materials and labor directly associated with the production.

Incremental Fixed Cost

Additional fixed costs that are incurred when a company expands its operations or production levels beyond the current scope.

Order Size

The quantity of goods or services purchased in a single transaction or order, which can impact volume discounts, shipping costs, and inventory management.