Which of the Following Accounts Has a Credit Balance

question 123

Multiple Choice

Which of the following accounts has a credit balance?

• A)Salaries Expense.
• B)Income Tax Payable.
• C)Land.
• D)Prepaid Rent.

---

Definitions:

World Trade Organization (WTO)

An organization of 164 nations (as of mid-2019) that oversees the provisions of the current world trade agreement, resolves trade disputes stemming from it, and holds forums for further rounds of trade negotiations.

Trade Deficits

A situation where the value of a country's imports exceeds the value of its exports.

Offshoring

The practice of shifting work previously done by domestic workers to workers located abroad.

Trading Partner

A country or organization which engages in international trade with another entity, typically exchanging goods, services, or information.