The Normal Balance of a Liability Account Is a Credit

question 197

True/False

The normal balance of a liability account is a credit.

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Definitions:

High Performance

Describes systems or individuals who consistently achieve superior results relative to predefined standards.

Charismatic Leaders

Individuals who inspire and motivate others through their personal magnetism, communication skills, and ability to instill belief in a vision.

Conservative

A political and social philosophy that promotes retaining traditional social institutions and values, often with resistance to rapid change.

Risk Taking

The act of engaging in activities that involve uncertainty with the potential for a significant positive or negative outcome.