An Awareness of the Normal Balances of Accounts Would Help

question 148

Multiple Choice

An awareness of the normal balances of accounts would help you spot which of the following as an error in recording?

• A) A credit balance in Accounts Payable
• B) A debit balance in Accounts Receivable
• C) A debit balance in Owner's Drawings
• D) A debit balance in Revenue

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Definitions:

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations.

War Effort

The total mobilization of a nation's resources, including civilians and the military, towards the support of military operations during a war.

Nation's Output

The entire sum of the value generated from all products and services made in a country during a particular time frame, typically known as Gross Domestic Product (GDP).

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