Which of the Following Accounts Does NOT Normally Have a Credit

question 53

Multiple Choice

Which of the following accounts does NOT normally have a credit balance?

• A) Accounts payable
• B) Retained profits
• C) Tax payable
• D) Wages expense

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Definitions:

Natural Resources

Natural resources, including minerals, forests, water, and productive soil, that exist in the environment and are utilized for economic advantages.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision.

Attended Party

the act of being present at a social gathering or function, often for the purposes of entertainment, networking, or celebration.

Study Time

The period dedicated to educational activities or acquiring knowledge through reading, practice, and research.