A Knowledge of the Normal Balances of Accounts Would Help

question 83

Multiple Choice

A knowledge 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 Dividends Declared 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:

Acetyl Coenzyme A

A central metabolite in cellular metabolism, involved in the synthesis and oxidation of fatty acids, and the metabolism of carbohydrates and proteins.

Aerobic Respiration

Aerobic respiration is a biological process in which glucose is broken down using oxygen to produce energy, carbon dioxide, and water.

Pyruvate

A key intermediate in several metabolic pathways, particularly glycolysis.

Oxidative Phosphorylation

The production of ATP using energy derived from the transfer of electrons in the electron transport system of mitochondria; occurs by chemiosmosis.