A Debit Is Not the Normal Balance for Which of the Following

question 31

Multiple Choice

A debit is not the normal balance for which of the following accounts?

• A)Asset account
• B)Dividends account
• C)Expense account
• D)Common stock account

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Definitions:

Housing Construction

The process of building residential structures such as houses, apartments, and townhomes.

Mercantilism

The incorrect theory that a nation’s economic objective should be to accumulate precious metals in the public treasury; this theory prompted trade barriers to cut imports, but other countries retaliated, reducing trade and the gains from specialization.

Trade Gains

The benefits that countries obtain from engaging in international trade, often reflected in improvements in economic welfare, efficiency, and resource allocation.

Supply-side Shocks

Unexpected events that affect the supply side of the economy, potentially altering the cost of production and leading to changes in prices and output.