The Normal Balance of the Common Stock Account Is a Because

question 51

Multiple Choice

The normal balance of the Common Stock account is a because it increases .

• A)debit, assets
• B)debit, expenses
• C)credit, stockholders' equity
• D)debit, stockholders' equity

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Definitions:

Partnership

A legitimate business structure involving two or more people who jointly manage and benefit from the profits.

Generally Accepted Accounting Principles

A set of accounting standards and practices that are used in the preparation of financial statements in the United States.

Procedures

The official or established way of doing something, often detailed through a series of steps or actions to be taken.

Guidelines

General rules, principles, or pieces of advice that suggest how something should be done or what something should be.