Multiple Choice
Which of the following statements is true?
A) Expenses accounts have normal credit balances and decrease owner's capital.
B) Expense accounts are increased with debits and have normal debit balances.
C) Expenses increase owner's capital.
D) Expenses and Owner's Drawings are negative factors in the computation of net income.
Correct Answer:

Verified
Correct Answer:
Verified
Q18: Which of the following is not true
Q98: The owner's drawings account<br>A) appears on the
Q143: The recording process becomes more efficient and
Q146: Boise Co. pays its employees twice a
Q147: Knowing the normal balances of accounts would
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
Q154: When Accounts Receivable account is debited, it
Q155: The purchase of supplies on account requires