Multiple Choice
An account is increased by a debit and has a normal balance of a debit. This account is:
A) an expense account.
B) a liability account.
C) an asset account.
D) both an expense account and an asset account.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q43: An account with a normal debit balance
Q44: A trial balance showed total debits of
Q46: George P. Smythe Co. purchased equipment from
Q50: A business transaction has occurred when:<br>A)an event
Q51: Consider the following transactions: I. Borrowed cash
Q52: The debt created by a business when
Q53: What is the first step in the
Q69: A company paid cash for an amount
Q164: The payment of salaries to employees would:<br>A)
Q183: An account will have a debit balance