Asset Accounts Normally Have Credit Balances and Expense Accounts Normally

question 133

True/False

Asset accounts normally have credit balances and expense accounts normally have debit balances.

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Definitions:

Advertising Law

Regulations and legal standards that govern the ways in which products and services can be promoted to the public.

Deceptive Practices

Activities by individuals or businesses that mislead or lie to consumers, often regarding the nature or quality of a product or service.

Unfair Practices

Activities considered unethical or illegal, often related to business dealings, that can lead to consumer harm or market manipulation.

Discharged

Relieved from a legal duty, obligation, or liability, often in the context of debts or contractual obligations.