Which of the Following Correctly Identifies Normal Balances of Accounts

question 98

Short Answer

Which of the following correctly identifies normal balances of accounts? a. $\begin{array}{ll}\text { Assets } & \text { Debit } \\\text { Liabilities } & \text { Credit } \\\text { Common Stock } & \text { Credit } \\\text { Revenues } & \text { Debit } \\\text { Expenses } & \text { Credit }\end{array}$

b. $\begin{array}{ll}\text { Assets } & \text { Debit } \\\text { Liabilities } & \text { Credit } \\\text { Common Stock } & \text { Credit } \\\text { Revenues } & \text { Credit } \\\text { Expenses } & \text { Credit }\end{array}$

c. $\begin{array}{ll}\text { Assets } & \text { Credit } \\\text { Liabilities } & \text { Debit } \\\text { Common Stock } & \text { Debit } \\\text { Revenues } & \text { Credit } \\\text { Expenses } & \text { Debit }\end{array}$

d. $\begin{array}{ll}\text { Assets } & \text { Debit } \\\text { Liabilities } & \text { Credit } \\\text { Common Stock } & \text { Credit } \\\text { Revenues } & \text { Credit } \\\text { Expenses } & \text { Debit }\end{array}$

Analyze the implications of inventory management systems on production efficiency.

Identify human factors to consider when choosing a production facility location.

Examine the considerations for production layout selection tailored to specific product types.

Comprehend strategies for managing supply chain relationships effectively.

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Definitions:

Conversion

The wrongful taking, using, or retaining possession of personal property that belongs to another.

Personal Property

Items of property that include movable assets as opposed to real property (land and buildings).

Gross Negligence

A legal concept signifying a severe degree of negligence demonstrating a reckless disregard for the safety or lives of others.

Punitive Damages

Monetary compensation awarded to a plaintiff that goes beyond what is necessary to compensate for losses and is intended to punish the defendant for egregious behavior.