Multiple Choice
Knowing the normal balances of accounts would help an accountant spot which of the following as a recording error?
A) A debit balance in the owner's drawing account
B) A debit balance in an asset account
C) A credit balance in a liabilities account
D) A debit balance in a revenue account
Correct Answer:
Verified
Correct Answer:
Verified
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Q142: A debit to a liability account indicates<br>A)
Q143: A credit is not the normal balance
Q144: A debit is not the normal balance
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Q148: An awareness of the normal balances of
Q149: The normal balance of Owner's Capital is
Q150: The investement of cash in the business
Q151: Which of the following statements is true?<br>A)