Which of the Following Statements About Expenses Is CORRECT

question 103

Multiple Choice

Which of the following statements about expenses is CORRECT?

• 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:

Project Activities

Tasks or operations that are executed as part of a project to achieve its objectives and produce the desired outcomes.

Accelerate Schedule

A technique used in project management to reduce the project duration without reducing the project scope.

Reassigning Resources

The process of reallocating personnel, budget, or materials from one area or project to another in response to changing priorities or requirements.

Project Management Software

A digital tool or suite designed to assist project managers and teams in organizing, managing, and tracking projects from inception to completion.