Identify the Accounts That Would Normally Have Balances in the Debit

question 174

Multiple Choice

Identify the accounts that would normally have balances in the debit column of a business's trial balance.

• A)Assets and expenses.
• B)Assets and revenues.
• C)Revenues and expenses.
• D)Liabilities and expenses.
• E)Liabilities and dividends.

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Definitions:

Compounding

The process where the value of an investment increases because the earnings on an investment, both capital and interest, earn interest as time passes.

Rate of Return

The uplift or shortfall in the value of an investment during a specific interval, portrayed as a percentage of the investment’s original pricing.

Account Value

The total worth of a financial account, considering all assets and liabilities within the account.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed annually.