Which of the Following Accounts Would Normally NOT Have a Credit

question 47

Multiple Choice

Which of the following accounts would normally NOT have a credit balance?

• A) Accounts Payable
• B) Cost of Goods Sold
• C) Sales Revenue
• D) Retained Earnings

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Definitions:

New Store

The establishment of a retail location that hasn't previously existed, indicating business expansion or entry into new markets.

Inventory

Raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Corporate Organization

The structured arrangement of roles, responsibilities, and relationships within a corporation to facilitate management and operations.