Which of the Following Statements Is TRUE of the Owner,Capital

question 88

Multiple Choice

Which of the following statements is TRUE of the Owner,Capital account?

• A) It is an equity account that has a normal credit balance.
• B) It is a liability account that has a normal credit balance.
• C) It is a liability account that has a normal debit balance.
• D) It is an equity account that has a normal debit balance.

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Definitions:

Independents

Independents are politicians or voters who are not affiliated with any established political party, often emphasizing individual or local issues in their platforms.

Act of Settlement

A 1701 act passed by the Parliament of England that secured the Protestant succession to the throne and established restrictions on the powers of the monarchy.

Protestant Rule

The governance or dominant influence of Protestant denominations in a political or social context.

Cromwell

Refers to Oliver Cromwell, a key figure in British history who led the parliamentary forces in the English Civil War and later ruled as Lord Protector.