Which One of the Following Account Groups Normally Has a Credit

question 208

Multiple Choice

Which one of the following account groups normally has a credit balance?

• A) assets and liabilities
• B) equity and assets
• C) liabilities and revenues
• D) assets and expenses

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Definitions:

Open Market

A market structure where economic transactions are conducted freely and transparently, allowing for unrestricted competition.

Gain or Loss

The financial result that occurs when the selling price of an asset differs from its original purchase price.

Bonds

Fixed income investment products representing loans made by an investor to a borrower, typically corporate or governmental, which pay periodic interest payments.

Retired

The status of an asset that has been removed from service or the phase in an individual's life when they exit the workforce.