Multiple Choice
An awareness of the normal balances of accounts would help you spot which of the following as an error in recording?
A) A debit balance in the Dividends account
B) A credit balance in an expense account
C) A credit balance in a liabilities account
D) A credit balance in a revenue account
Correct Answer:
Verified
Correct Answer:
Verified
Q55: For the basic accounting equation to stay
Q121: A ledger<br>A)contains only asset and liability accounts.<br>B)is
Q122: Which of the following accounts is an
Q123: A revenue account<br>A)is increased with a debit.<br>B)is
Q125: During 2022, its first year of operations,
Q127: In the first month of operations, the
Q129: Debits<br>A)increase both assets and liabilities.<br>B)decrease both assets
Q130: During January 2022, Carey Services Inc.paid a
Q131: A revenue generally<br>A)increases assets and liabilities.<br>B)increases assets
Q169: An account consists of<br>A) a title a