Examlex
Select the correct description for each of the abbreviations.
-TAH-BSO
Debit And Credit Balance
Accounting terms where debit balances typically exist in asset and expense accounts, and credit balances in liability, equity, and revenue accounts.
Normal Balance
The side of an account (debit or credit) that is expected to have a higher balance, based on accounting rules.
Owner's Drawings
Removal of funds or other valuables from a company by the proprietor for their personal benefit.
Cash
A form of liquid asset that represents immediately available funds for transaction, trade, and settling debts.
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