Of the Following Accounts,the One That Normally Has a Credit

question 150

Multiple Choice

Of the following accounts,the one that normally has a credit balance is:

• A)Cash
• B)Office Equipment
• C)Sales Salaries Payable
• D)Dividends
• E)Sales Salaries Expense

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Definitions:

Market Price

The present rate at which a service or asset is available for purchase or sale.

Value Loss

The reduction in the value of an asset, investment, or product, often due to market changes, deterioration, or obsolescence.

Gift

A voluntary transfer of property or funds from one individual to another without expectation of payment or compensation.

Diamond-Water Paradox

A question in economics that points out the contradiction between the high value of diamonds, which are non-essential, and the low value of water, which is essential for survival.