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:

Solution Component

Any substance that is part of a solution, typically categorized as either the solute (dissolved material) or the solvent (medium in which solute is dissolved).

Positive

In the context of electric charge, positive refers to an electric charge of the type carried by protons.

Negative

In the context of charge, negative refers to an electrical charge of the same type carried by electrons.