Which of the Following Accounts Does Not Have a Credit

question 52

Multiple Choice

Which of the following accounts does not have a credit balance?

• A)Gain on sale of land.
• B)Investment income.
• C)Unearned revenue.
• D)Rent expense.

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Definitions:

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, aiming to standardize the law in all 50 states.

Federal Trade Commission

A U.S. federal agency established to protect consumers and ensure a strong competitive market by enforcing antitrust and consumer protection laws.

Equal Credit Opportunity Act

A U.S. federal law ensuring that all consumers are given an equal chance to obtain credit.

Truth-In-Lending Act

A U.S. federal law designed to protect consumers in their dealings with lenders and creditors, by requiring clear disclosure of key loan terms and costs.