A Debit Is Not the Normal Balance for Which Account

question 4

Multiple Choice

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

• A)Dividends
• B)Cash
• C)Accounts Receivable
• D)Service Revenue

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Definitions:

Standardized Form Contracts

Contracts that are preprinted and contain set terms and conditions for all parties, typically not negotiable.

Pre-Contract Statements

Statements made by parties involved before a contract is finalized, which may influence the agreement or understanding of the contract.

Consideration

In contract law, the benefit or value that each party agrees to exchange as part of a contractual agreement, which is a requirement for a valid contract.

Assignee

A person to whom an assignment is made.