The Normal Balance of the Supplies Account Is a __________

question 88

Multiple Choice

The normal balance of the Supplies account is a __________ because it is a(n) __________ account.

• A)credit, liability
• B)debit, stockholders' equity
• C)credit, expense
• D)debit, asset

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Definitions:

Economic Disruption Events

Occurrences that significantly interrupt the normal course of economic activity, potentially leading to widespread financial impacts.

Price System

A mechanism through which prices are determined for goods and services in an economy, guiding and coordinating economic actions by conveying information about relative market values and scarce resources.

Capital Source

The origins of the funds or assets that are invested in a business or project.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by multiple people without depleting the supply.