The Normal Balance of an Expense Account Is a Because

question 51

Multiple Choice

The normal balance of an expense account is a because expenses decrease .

• A) credit; assets
• B) debit; revenues
• C) credit; liabilities
• D) debit; shareholders' equity

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Definitions:

Insurance Premiums

The amount of money that individuals or businesses pay for an insurance policy to remain active.

Deductible

An amount that must be paid out of pocket by the policyholder before an insurance company will cover a claim.

Medical Bills

The invoices and financial charges generated for services rendered by health care providers, hospitals, and clinics.

Insurance Premiums

The amount paid periodically to an insurance company by the insured for coverage under an insurance policy.