Which of the Following Types of Accounts Normally Have Debit

question 46

Multiple Choice

Which of the following types of accounts normally have debit balances?

• A)liabilities and owner's equity
• B)assets and revenue
• C)assets, liabilities, and owner's equity
• D)expenses and assets

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Definitions:

Situational

Relating to or dependent upon a set of circumstances or conditions at a particular time that affects actions, decisions, and strategies.

Psychological Factor

Represents the mental and emotional influences that affect consumer behaviors and decision-making processes.

Functional Need

A consumer's requirement for a specific feature or function that a product or service must fulfill to be considered useful.

Lifestyle

The way in which a person or group lives, including patterns of social relations, consumption, entertainment, and dress.