The Normal Balance for an Asset Account Is a Debit

question 7

True/False

The normal balance for an asset account is a debit and the normal balance for a liability account is a credit.

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Definitions:

Proportion

A statistical measure that refers to the fraction of the total number of outcomes in a particular category.

Frequency Polygon

A graphical representation of the distribution of a dataset that shows how often each value in the dataset occurs.

Ogive

A graphical representation of the cumulative frequency or cumulative relative frequency on a graph.

Pie Chart

A circular statistical graphic which is divided into slices to illustrate numerical proportion.