For Revenues,the Category of Account and Its Normal Balance Is

question 130

Multiple Choice

For revenues,the category of account and its normal balance is ________.

• A) equity and a credit balance
• B) assets and a debit balance
• C) assets and a credit balance
• D) equity and a debit balance

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Definitions:

Call Option

An agreement granting the buyer the option to purchase an asset at a predetermined price until the option expires, providing potential profit opportunities from price increases.

Financial Assets

Tangible or intangible assets held for economic benefits in the form of investments, cash, stocks, bonds, and real estate.

Tangible Assets

Physical items or properties owned by a person or company, such as real estate, equipment, and inventory.