Which Accounts Normally Have Credit Balances

question 11

Multiple Choice

Which accounts normally have credit balances?

• A)Revenues, liabilities, and dividends
• B)Revenues, liabilities, and assets
• C)Revenues, liabilities, and retained earnings
• D)Revenues, liabilities, and expenses

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Definitions:

Summarize

To condense a larger piece of content into its main points or essence.

Descriptive Statistics

Statistical procedures used to summarize, organize, and simplify data, including measures such as mean, median, mode, and standard deviation.

Generalize

The process of deriving general principles from specific instances, or making broad statements that apply across multiple cases.

Population

The total number of people living in a particular area or country.