All of the Following Accounts Have a Normal Debit Balance

question 118

Multiple Choice

All of the following accounts have a normal debit balance except ________.

• A) Dividends
• B) Loss on Sale of Land
• C) Additional Paid in Capital
• D) Land

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Definitions:

Indorsement

The act of signing the back of a negotiable financial instrument, thereby making it payable to someone other than the named holder.

Signature

A person's name written in a distinctive way as a form of identification in authorizing a document.

Check

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or a designated entity from the drawer's account.

Order Paper

A negotiable instrument that is payable to a specific person or their order, requiring endorsement for transfer.