Examlex
Which of the following is most life threatening?
Liability Decreases
A reduction in the amounts owed by an entity to external parties or creditors.
Debit Balance
An account balance where the total debits exceed the total credits, often indicating the amount that a company or individual owes.
Credit Balance
A situation where the total credits in an account exceed the total debits, common in liability and revenue accounts.
Income Tax Instalment
Payments made to tax authorities in installments rather than a lump sum, typically for estimated taxes.
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