All of the Following Accounts Has a Normal Debit Balance

question 141

Multiple Choice

All of the following accounts has a normal debit balance except ________.

• A)Dividends
• B)Loss on Sale of Land
• C)Additional Paid in Capital
• D)Land

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Definitions:

Equivalent Units

A term used in cost accounting to express the amount of work done during a period in terms of complete units of output.

First-in

A method used in inventory valuation where the first goods purchased are the first ones to be used or sold.

Materials

Raw inputs used in the manufacturing of products or goods, part of the direct costs in production.

Direct Method

A cash flow statement reporting approach that lists major categories of gross cash receipts and payments.