Which of the Following Statements Is True of Expenses

question 65

Multiple Choice

Which of the following statements is true of expenses?

• A)Expenses increase equity,so an expense account's normal balance is a credit balance.
• B)Expenses decrease equity,so an expense account's normal balance is a credit balance.
• C)Expenses increase equity,so an expense account's normal balance is a debit balance.
• D)Expenses decrease equity,so an expense account's normal balance is a debit balance.

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Definitions:

Schema

An organized framework for representing knowledge that typically includes characters, plots, and settings and incorporates both general knowledge about the world and information about particular events. See also script and story grammar.

Classical

Often referring to classical conditioning, a learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus.

Family Resemblance

The concept of how members of a category share certain characteristics, though there may be no single characteristic common to all.

Mental Representation

Internal, mental symbols, concepts or ideas that stand in for objects, actions, or conditions in the external world, facilitating cognitive processes.