Asset Accounts Normally Have Credit Balances and Expense Accounts Normally

question 133

True/False

Asset accounts normally have credit balances and expense accounts normally have debit balances.

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Definitions:

Securitization

The process of pooling various types of contractual debt like mortgages and selling them as bonds to investors.

Home Mortgages

A loan secured by the real property that is used to purchase the property itself.

Dollar Amount

A specific value or quantity of money expressed in the currency of the United States.

Investment Company

A corporation or trust engaged in the business of investing the pooled capital of investors in financial securities, including stocks, bonds, and money market instruments.