Which of the Following Statements Is True

question 27

Multiple Choice

Which of the following statements is true?

• A)The normal balance is always on the side of the T account that is increasing.
• B)The normal balance is always on the side of the T account that is decreasing.
• C)The normal balance is always on the debit side of the T account.
• D)The normal balance is always on the credit side of the T account.

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Definitions:

Title Search

A title search is a process conducted to verify the legal ownership of property and to ensure there are no liens, encumbrances, or disputes over the property's title before its sale or transfer.

Chronological Record

A sequential documentation of events in the order of their occurrence.

Ownership

The state or fact of legal possession and control over property, which includes the rights to use, enjoy, and dispose of the property.

Effective Deed

A legal document that transfers ownership of real property and becomes valid once it is executed according to laws and delivered to the grantee.