Which of the Following Accounts Has a Normal Debit Balance

question 161

Multiple Choice

Which of the following accounts has a normal debit balance?

• A) Wages Payable
• B) Fees Earned
• C) Rent Expense
• D) Owner's Capital

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Definitions:

Trade Secrets

Trade secrets are confidential pieces of information that provide a business with a competitive edge, such as formulas, practices, designs, instruments, or patterns that are not generally known or reasonably ascertainable.

Catgut

A type of cord previously made from the natural fibers in the intestines of sheep or other animals, commonly used in making strings for musical instruments or surgical sutures.

Derived Demand

The demand for a factor of production or intermediate good that results from the demand for another intermediate or final good.

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to shareholders.