What Is

question 164

Multiple Choice

What is ?

---

Definitions:

Accounts Credited

Refers to the entries made on the credit side of a ledger, indicating a reduction in assets or an increase in liabilities or equity.

Supplies On Account

The purchase of supplies on credit, where payment is deferred to a later date.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance based on the account type.

Service Revenue

Income earned by a company through the provision of services to customers, as opposed to selling goods.