For Expenses,the Category of Account and Its Normal Balance Is

question 142

Multiple Choice

For Expenses,the category of account and its normal balance is ________.

• A)equity and a credit balance
• B)assets and a debit balance
• C)assets and a credit balance
• D)equity and a debit balance

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Definitions:

Incidence

The allocation or impact of an economic activity or policy, especially in terms of who bears the cost or receives the benefits.

Excise Tax

A tax imposed on specific goods, services, or activities, often aimed at discouraging their use or raising revenue for government.

Price Elasticity

A measure of the sensitivity of demand or supply for a product or service to changes in its price.

Incidence

The measure or rate at which a particular phenomenon occurs, often used in the context of disease or taxation.