For Owner's Capital,the Category of Account and Its Normal Balance

question 152

Multiple Choice

For Owner's Capital,the category of account and its normal balance is ________.

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

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Definitions:

Hourly Shift

Hourly Shift refers to the scheduled period of work or duty for an employee or a group of employees based on an hourly rate, often used in industries with variable workloads.

Cash Budget

A financial plan that estimates the cash inflows and outflows for a business over a specific period of time.

Depreciation Expense

An accounting method to allocate the cost of a tangible asset over its useful life, reflecting the asset's wear and tear or obsolescence.

Beginning Cash Balance

The amount of cash a company has at the start of a new financial period, carried over from the end of the previous period.