Answered: A credit is not the normal balance for…

A credit is not the normal balance for which account listed below? Select one: a. Owner’s Drawings account b. Revenue account c. Capital account d. Liability account

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

A credit is not the normal balance for which account listed below?

Select one:

a. Owner’s Drawings account

b. Revenue account

c. Capital account

d. Liability account

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