Which of the Following Accounts Has a Normal Debit Balance

question 64

Multiple Choice

Which of the following accounts has a normal debit balance?

• A) Wages Payable
• B) Fees Earned
• C) Rent Expense
• D) Common Stock

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Definitions:

Debtors

Individuals or entities that owe money to another individual or entity.

Creditors

Individuals or entities to whom money is owed by a debtor.

Unsecured Creditors

Unsecured Creditors are individuals or entities that have loaned money without taking collateral and thus stand last in line to be paid if the debtor defaults or files for bankruptcy.

Domestic-support Obligations

Financial commitments, such as alimony or child support, owed to a spouse, ex-spouse, or child usually as determined by court order.