Which of the Following Groups of Accounts Have a Normal

question 168

Multiple Choice

Which of the following groups of accounts have a normal debit balance?

• A) revenues, liabilities, and capital
• B) capital and assets
• C) liabilities and expenses
• D) assets and expenses

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Definitions:

Certified Check

Any check that is accepted by the bank from which the funds are drawn.

Teller's Check

A check drawn by a bank on its own funds and signed by a teller, often used in situations requiring guaranteed funds.

Depository Bank

A financial institution that holds and manages securities and assets on behalf of investors, such as stocks and bonds.

Payor Bank

A bank that is responsible for paying a check or draft presented for payment.