A Credit Is Not the Normal Balance for Which Account

question 87

Multiple Choice

A credit is not the normal balance for which account listed below?

• A) Common Stock account
• B) Revenue account
• C) Liability account
• D) Dividends account

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Definitions:

Unenforceable

Describes a term, agreement, or contract that cannot be legally upheld or compelled by law.

Procedural Rules

Regulations or guidelines governing the processes and procedures of legal, governmental, or organizational activities to ensure fairness, efficiency, and consistency.

Administrative Agencies

Government bodies responsible for the regulation and oversight of specific areas of public and economic policy.

Legislation

Laws passed by a governing body, such as a parliament or congress, that regulate, authorize, forbid, or sanction certain actions.