Which of the Following Accounts Normally Has a Debit Balance

question 108

Multiple Choice

Which of the following accounts normally has a debit balance?

• A) Sales
• B) Sales Discounts
• C) Sales Tax Payable
• D) Sales and Sales Tax Payable
• E) Sales Discounts and Sales Tax Payable

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Definitions:

Marginal Benefit Curve

A graphical representation showing how the benefit to consumers changes as the quantity of a good consumed increases.

Society's Welfare

Refers to the overall well-being and quality of life of the people in a community, including factors like health, economic stability, and social relationships.

Marginal Social Benefit

the additional benefit to society as a whole from consuming one more unit of a good or service.

Marginal Social Cost

The additional cost imposed on society as a whole by producing one more unit of a good or service.