Which of the Following Describes the Classification and Normal Balance

question 6

Multiple Choice

Which of the following describes the classification and normal balance of the fees earned account?

• A) asset, credit
• B) liability, credit
• C) stockholders' equity, debit
• D) revenue, credit

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Definitions:

Stepparent Family

A rephrased definition: A family configuration where children are raised by a biological parent and their new spouse, who is not the children's biological parent.

Biological Children

Individuals who are the genetic offspring of their parents, sharing their DNA.

Extended Families

Extended families include relatives beyond the nuclear family, such as grandparents, aunts, uncles, and cousins, who often share in the caregiving and support of family members.

Grandparents

The parents of one's parents, who play varying roles in family structures from caregivers to sources of wisdom.