An Awareness of the Normal Balances of Accounts Would Help

question 9

Multiple Choice

An awareness of the normal balances of accounts would help you spot which of the following as an error in recording?

• A) A debit balance in the drawing account
• B) A credit balance in an expense account
• C) A credit balance in a liabilities account
• D) A credit balance in a revenue account

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Definitions:

Biological Influences

Biological influences are factors stemming from an organism's physiology and genetics that affect its behavior, development, and functioning.

Cultural Influences

Refers to the impact that the customs, beliefs, and practices of a society have on the behaviors, attitudes, and values of its members.

Ethical Principles

The fundamental guidelines that dictate behavior and actions within a society or profession, often emphasizing fairness, respect, and integrity.

Morally Correct Decisions

Choices made based on ethical principles and values that aim to do good and avoid harm to others.