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

question 11

Multiple Choice

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

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

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Definitions:

Marginal Product

The elevation in production output stemming from the addition of one unit of input.

Profit Maximization

The process or strategy where a firm adjusts its production to achieve the highest possible profit.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production including machinery, buildings, and land.

Labor

The contribution of human physical and mental energies in the fabrication of goods and the supply of services.