Identify the Accounts That Would Normally Have Balances in the Debit

question 67

Multiple Choice

Identify the accounts that would normally have balances in the debit column of a business's trial balance.

• A) Assets and revenues.
• B) Revenues and expenses.
• C) Liabilities and expenses.
• D) Assets and expenses.
• E) Liabilities and withdrawals.

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Definitions:

Principal

In finance, the original sum of money borrowed or invested, excluding any interest or profit. In legal contracts, the party who authorizes an agent to act on their behalf.

Course And Scope

Refers to activities that are conducted within the bounds of an employee's job duties and during employment.

Employer Authorization

A formal approval or permission granted by an employer, often related to employment activities or access to company resources.

Employment

A formal relationship between an employer and an individual where the individual performs work or services in exchange for compensation.