For Supplies,the Category of Account and Its Normal Balance Are

question 1

Multiple Choice

For Supplies,the category of account and its normal balance are:

• A)Owners' equity and a credit balance.
• B)Assets and a credit balance.
• C)Liabilities and a credit balance.
• D)Assets and a debit balance.

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Definitions:

Entrepreneur

An individual who creates and manages a business venture in order to gain profit by taking on financial risks.

Butter Production

The process of making butter from cream or milk by churning, commonly used as a measure in agricultural and economic studies.

Gun Production

The process of manufacturing firearms, which includes design, fabrication, and assembly, often regulated by government policies due to their implications for public safety and national security.

Economic Growth

An increase in the inflation-neutralized worth of goods and services brought forth by an economy through time.