Examlex
Which of the following accounts normally has a debit balance?
Investment Income
The money earned from various types of investments, including stocks, bonds, mutual funds, and real estate.
Municipal Bonds
Bonds issued by local, state, or county governments to finance public projects, typically offering tax-exempt interest payments.
Deferred Income Taxes
Tax liabilities that arise due to timing differences between the recognition of income and expenses in the financial statements and their recognition in the tax returns, deferred to future periods.
Life Insurance Proceeds
The amount of money paid out to the beneficiary of a life insurance policy upon the death of the insured or at the policy's maturity.
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