Assuming a Normal Balance, Which of the Following Is Correct

question 80

Multiple Choice

Assuming a normal balance, which of the following is correct concerning the balance sheet columns of the work sheet?

• A) Assets are shown as debits.
• B) Liabilities are shown as debits.
• C) The drawing account is shown as a credit.
• D) Revenues are shown as credits.

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Definitions:

Rulers

Individuals who hold a position of authority and control in governance, often within a monarchy or an empire, making key decisions and leading the state.

Subjects

Individuals under the rule of a monarch or government, often considered in relation to their rights and obligations.

Dutch Republic

A historic country in Europe that existed from the late 16th century to the late 18th century, known for its pioneering role in finance, trade, and the arts during the Golden Age.

Prosperous Commodities

Goods or products that generate significant wealth and economic growth through their trade or exploitation.