All of the Following Accounts Have Normal Credit Balances Except

question 13

Multiple Choice

All of the following accounts have normal credit balances except

• A)Accounts Payable
• B)Common Stock Capital Stock)
• C)Investments
• D)Service Revenue

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Definitions:

Financial Records

Documented information of a business's operations, including income, expenses, assets, and liabilities, used to track financial performance.

Bank Statement

A document or report issued by a bank summarizing transactions in an account holder's account over a specific period.

Deposits

Funds placed into a bank account or towards the purchase of an asset, representing a liability for the bank or a commitment by the buyer.

Liability

A financial obligation or debt owed by a company to another entity, which must be settled in the future through the transfer of assets or services.