Which of the Following Statements Is Incorrect

question 9

Multiple Choice

Which of the following statements is incorrect?

• A) The normal balance of accounts receivable is a debit.
• B) The normal balance of owner's withdrawals is a debit.
• C) The normal balance of unearned revenues is a credit.
• D) The normal balance of an expense account is a credit.
• E) The normal balance of the owner's capital account is a credit.

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Definitions:

FreeWheeling

An informal decision-making or brainstorming process without strict rules or boundaries, encouraging open and spontaneous participation.

Brainstorming

A collaborative idea generation technique that encourages participants to come up with creative solutions without judgment or criticism during the initial phase.

Lack Of Response

A situation where there is no reply or acknowledgment to a query, request, or stimulus, indicating potential disinterest or inability to engage.

Course Of Action

A plan or strategy that an individual or organization decides to undertake in response to or anticipation of an event or situation.