Multiple Choice
Which of the following statements is incorrect?
A) The normal balance of accounts receivable is a debit.
B) The normal balance of owner's withdrawals is a debit.
C) The normal balance of unearned revenues is a credit.
D) The normal balance of an expense account is a credit.
E) The normal balance of the owner's capital account is a credit.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: The following are all of the accounts
Q5: Based on the following trial balance for
Q6: Identify whether a debit or credit yields
Q7: Transactions are first recorded in the ledger.
Q11: Unearned revenues are:<br>A) Revenues that have been
Q13: A ledger is:<br>A) A record containing increases
Q14: An account used to record the owner's
Q50: A _ gives a complete record of
Q223: The posting process is the link between
Q224: Explain the debt ratio and its use