Identify the Statement Below That Is Incorrect

question 170

Multiple Choice

Identify the statement below that is incorrect.

• A)The normal balance of accounts receivable is a debit.
• B)The normal balance of dividends is a debit.
• C)The normal balance of unearned revenues is a credit.
• D)The normal balance of an expense account is a credit.
• E)The normal balance of the common stock account is a credit.

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Definitions:

Vendor Section

A designated area within a software application or platform where information and transactions related to suppliers are managed.

Customers List

A record or database that contains information about a business's customers, including contact information and transaction history.

Create Invoices

The process of generating bills for goods or services provided, requesting payment from customers.

Sales Account

An account in the general ledger that records the revenue from goods sold or services rendered to customers.