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:

Group Memory

The collective knowledge and information shared among members of a group, which can be accessed and utilized for the group's benefit.

Chalkboards

A smooth, dark surface used for writing on with chalk, commonly found in educational settings for teaching purposes.

Whiteboards

Smooth, white surfaces used for writing or drawing with markers, often found in classrooms, meeting rooms, and offices.

Complex Relationships

Refers to connections or interactions between entities that involve multiple factors, variables, or layers of association.