Which of the Following Accounts Normally Has a Debit Balance

question 26

Multiple Choice

Which of the following accounts normally has a debit balance?

• A)Accounts payable.
• B)Retained earnings.
• C)Accounts receivable.
• D)Service revenue.

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Definitions:

Equitable Distribution

The fair and just distribution of economic benefits across a society, aiming for a balanced allocation of wealth and opportunities.

Efficient Allocation

The process by which resources are optimally distributed to meet the needs and maximize the welfare of the economy or market.

Soviet Model

An economic and political system found in the former Soviet Union, characterized by state ownership of resources, central planning, and one-party rule.

Karl Marx

A 19th-century philosopher, economist, and socialist who analyzed the effects of capitalism and proposed a revolutionary class struggle leading to a society with no class distinctions.