Each Account Has a Normal Balance

question 49

Multiple Choice

Each account has a normal balance.For the following list of accounts, indicate whether the normal balance of each is a debit or a credit.
-Unearned Advertising Fees

• A)Debit
• B)Credit

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Definitions:

Auditing Standards Board

The body responsible for issuing auditing, attestation, and quality control standards for audits of non-public entities in the United States.

Federal Agency

A unit of the federal government in the United States established by Congress to enforce laws and regulations in a specific area.