The Classification and Normal Balance of the Supplies Expense Account

question 68

Multiple Choice

The classification and normal balance of the supplies expense account is a(n)

• A) asset with a debit balance
• B) asset with a credit balance
• C) expense with a debit balance
• D) liability with a credit balance

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Definitions:

Peak Demand

The highest level of demand for a product or service over a particular period of time.

Accounting Software

Accounting software is a computer program that assists bookkeepers and accountants in recording and reporting a firm's financial transactions, offering features like payroll, invoicing, and ledger management.

Involuntary Turnover

The termination of employees from an organization for reasons beyond their control, such as layoffs or company downsizing.

Technical Support

Assistance provided to users of technology products or services in solving hardware or software problems.