Which of the Following Statements About Normal Account Balances Is

question 87

Multiple Choice

Which of the following statements about normal account balances is correct?

• A)Assets have debit balances and liabilities have credit balances.
• B)Assets and liabilities have credit balances.
• C)Assets have credit balances and liabilities have debit balances.
• D)Assets and liabilities have debit balances.

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Definitions:

Model Rule 1.16

A provision within the American Bar Association's Model Rules of Professional Conduct that outlines the circumstances under which a lawyer may withdraw from representing a client.

Withdraw Representation

The act of a lawyer or advocate ceasing to act on behalf of a client in legal proceedings.

Model Rule 1.6(b)(1)

A provision in the American Bar Association's model rules of professional conduct that allows but does not require a lawyer to disclose information to prevent reasonably certain death or substantial bodily harm.

Confidential Client Information

Sensitive data related to clients that are protected from unauthorized disclosure, typically in legal, medical, or financial professions.