Which of the Following Is True Regarding Normal Balances of Accounts

question 201

Multiple Choice

Which of the following is true regarding normal balances of accounts?

• A) All accounts have a normal debit balance.
• B) The normal balance of all accounts will have either a positive or negative balance.
• C) Accounts that have a normal debit balance will only have debit entries, never credit entries.
• D) The normal balance is on the increase side of the account.

Identify the factors determining the frequency of sales calls and account visits.

Recognize measures used to assess account penetration and its significance.

Appreciate the role of continuous improvement and consultation in customer relations.

Grasp effective strategies for post-sales service and customer satisfaction.

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Definitions:

Third Party

An individual or entity that is not directly involved in a transaction or agreement but may be affected by it or have an interest in its outcome.

Settlement

An agreement reached between parties in a dispute, often involving payment or other terms, to resolve the dispute without further litigation.

Good Faith

Acting with honesty and integrity.

Collective Bargaining

A procedure for settling terms and conditions of employment by negotiation between an employer and its employees as expressed through representatives chosen by them.