Office Furniture, Wages Payable and Dividends Have Normal Balances Of

question 36

Multiple Choice

Office Furniture, Wages Payable and Dividends have normal balances of:

• A)credit, credit, and credit, respectively.
• B)debit, credit, and debit, respectively.
• C)debit, debit, and credit, respectively.
• D)credit, debit, and debit, respectively.

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Definitions:

Firm Produces

The process by which a business combines inputs, such as labor and capital, to create outputs, or goods and services, for consumption.

Marginal Cost

The cost associated with producing one more unit of a specific good or service, key in decision-making processes for production levels.

Marijuana

Marijuana, also known as cannabis, is a psychoactive drug from the Cannabis plant used for medical or recreational purposes.

Shipment Seized

The act of authorities taking control over goods in transit due to non-compliance with laws or regulations.