Which of the Following Statements Is Incorrect

question 34

Multiple Choice

Which of the following statements is incorrect?

• A)The normal balance of accounts receivable is a debit.
• B)The normal balance of dividends is a debit.
• C)The normal balance of unearned revenues is a credit.
• D)The normal balance of an expense account is a credit.
• E)The normal balance of common stock is a credit.

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Definitions:

Arithmetic Sequence

A series where each number following the initial one is derived by adding a fixed value to the term before it.

Nth Term

The general term of a sequence, represented as a function of its position, n, in the sequence.

Formula

A concise way of expressing information symbolically, such as a mathematical or chemical formula.

Compounded Yearly

Calculating interest on an investment or loan annually, where the accrued interest is added to the principal sum each year.