Which of the Following Accounts Normally Has a Credit Balance

question 10

Multiple Choice

Which of the following accounts normally has a credit balance?

• A) Sales Discounts
• B) Sales Returns and Allowances
• C) Purchases Returns and Allowances
• D) Purchases
• E) Accounts Receivable

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Definitions:

Business Administration

The management and organization of business operations and decision-making processes in companies and organizations.

Majoring

The process of specializing in a particular field or area of study within a broader educational program.

Graphical Device

A tool or mechanism used to create, design, or display data and information in a visual format.

Relative Frequency

The ratio of the number of times a particular value or event occurs to the total number of occurrences, used to estimate probabilities in samples.