Which of the Following Describes the Classification and Normal Balance

question 3

Multiple Choice

Which of the following describes the classification and normal balance of the Retained Earnings account?

• A)Asset, debit
• B)Stockholders' equity, credit
• C)Revenues, credit
• D)Expense, debit

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Definitions:

Arrives

The act of reaching a destination or coming into presence at a specific place or time.

Mixed Numbers

A number consisting of an integer and a fraction, such as 3 1/2, used to represent quantities that exceed whole numbers.

Lowest Terms

Refers to a fraction that is simplified to its smallest possible numerator and denominator without changing its value.

Fractions

A numerical quantity that is not a whole number, representing a part of a whole.