Which of the Following Accounts Has a Normal Credit Balance

question 21

Multiple Choice

Which of the following accounts has a normal credit balance?

• A) Sales Returns and Allowances
• B) Sales Discounts
• C) Sales Revenue
• D) Selling Expense

Comprehend the concept and characteristics of emerging adulthood.

Describe the changes in physical functioning with age, including senescence.

Recognize the impact of socioeconomic status and culture on the transition to adulthood.

Identify the role of optimism and instability in emerging adulthood.

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Definitions:

Retained Earnings

The cumulative amount of net income earned by a company that is kept or retained within the company for future use, rather than being paid out as dividends.

Total Assets

The sum of all assets owned by a company, including both current and non-current assets, as represented on the balance sheet.

Appropriation

The process of setting aside funds for a specific use or purpose by a company, organization, or government.

Corporation's Affairs

The various activities, decisions, and policies related to the management and operation of a corporation.