Multiple Choice
Which of the following statements is true of expenses?
A) Expenses increase equity,so an expense account's normal balance is a credit balance.
B) Expenses decrease equity,so an expense account's normal balance is a credit balance.
C) Expenses increase equity,so an expense account's normal balance is a debit balance.
D) Expenses decrease equity,so an expense account's normal balance is a debit balance.
Correct Answer:
Verified
Correct Answer:
Verified
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