Which of the Following Statements Is True of Expenses

question 131

Multiple Choice

Which of the following statements is true of expenses?

• A)Expenses increase owner's equity, so an expense account's normal balance is a credit balance.
• B)Expenses decrease owner's equity, so an expense account's normal balance is a credit balance.
• C)Expenses increase owner's equity, so an expense account's normal balance is a debit balance.
• D)Expenses decrease owner's equity, so an expense account's normal balance is a debit balance.

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Definitions:

Pessimistic Attitude

A tendency to focus on the negatives and expect unfavorable outcomes, often affecting an individual's mood and behavior.

Successful Agers

Successful agers refers to individuals who maintain physical health, cognitive function, and active engagement with life as they grow older, often studied in gerontology for insights into aging well.

Ego

In psychoanalytic theory, the part of the personality that mediates between the demands of the id, superego, and reality, playing a key role in problem-solving and reality-testing.

Similarity

The state of being alike or sharing common features, often used to describe comparisons between objects, ideas, or individuals.