expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An expense refers to money spent by the company, or a cost incurred by the company, in an effort to generate revenue for that company. A company may have both a liability account and an expense ...
A.Decrease a liability; increase revenue.B.Increase an expense; increase a liability.C.Increase an expense; decrease a liability.D.Increase an asset; increase revenue.E.Increase an expense; decrease an asset.相关知识点: 试题来源: 解析 B 反馈...
A. notes receivable1 B. commission2 C. bonds payable- Expense account: the increase should be stated on left side, and decrease should be present on right side.- Equity account: the right side states the decrease in equity, and the left side states the increase in equity.- Assets account...
Bad Debt Expense is a/an ___ (asset/liability/etc.) account with a normal ___ balance. Closing entries: To complete the business cycle, closing entries are necessary to be recorded in the book of company. These accounting entries prepare the financial data of the company...
An accrued expense is a liability account that recognizes past expenses not billed or paid yet. Accrued expenses don’t represent the exact amount due in the future, but only a close estimate. You can only record accrued expenses when using the accrual basis of accounting. With the cash basis...
Answer to: Accounts receivable is a(n) ___ account and has a normal ___ balance. a. liability; debit. b. asset; debit. c. liability; credit...
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A credit balance in a ledger account would normally be shown where the account is:A.An asset accountB.A liability accountC.A capital accountD.An income accountE.An expense account的答案是什么.用刷刷题APP,拍照搜索答疑.刷刷题(shuashuati.com)是专业的大学职
The balances in liability accounts are nearly always credit balances and will be reported on the balance sheet as either current liabilities or noncurrent (or long-term) liabilities. Related Questions What is the difference between an adjunct account and a contra account? What is a credit? Wh...
1.Accounting information is used bya.business b.government regulation agencies c.labor unions d.all of above2.An account has two sides called the a.debit and credit b.asset and liability c.revenue and expense d.journal and ledger 3.A business has assets of 140000 and liabilities of 80000....