A debit is not the normal balance for which of the following?
A) Asset account
B) Dividends account
C) Expense account
D) Common stock account

Name: A debit is not the normal balance for which of the following? A) Asset account B) Dividends account C) Expense account D) Common stock account
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Question

Quizplus · Accepted Answer

Common stock is an equity account and its normal balance is a credit. A debit in this account indicates a decrease in the amount of equity.

A Debit Is Not the Normal Balance for Which of the Following