Which of the Following Items Generally Has a Credit Balance

question 30

Multiple Choice

Which of the following items generally has a credit balance in the income statement columns of the worksheet?

• A)Purchase Returns and Allowances
• B)Purchases
• C)Accumulated Depreciation
• D)Sales Discounts

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Definitions:

Chan Buddhist

A tradition of Buddhism originating in China, emphasizing meditation, intuition, and sudden enlightenment, known in Japan as Zen Buddhism.

Song Emperors

Rulers of the Song Dynasty, which was a culturally rich and sophisticated period in China from 960 to 1279 CE.

Marquise of Dai

Refers to Lady Dai (Xin Zhui), a noblewoman during the Han Dynasty in China, whose well-preserved mummy and extravagant tomb were discovered in 1971.

Funeral Banner

A piece of cloth, often elaborately decorated, used in funeral ceremonies as part of the burial rites to signify honor or represent the deceased.