Expense accounts have debit balances because they decrease net income,retained earnings,and stockholders' equity.

Name: Expense accounts have debit balances because they decrease net income,retained earnings,and stockholders' equity.
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Question

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Expense accounts represent costs incurred by a company, which reduce the company's profits and ultimately its equity. As a result, expense accounts have debit balances since they decrease net income, retained earnings, and stockholders' equity.

Expense Accounts Have Debit Balances Because They Decrease Net Income,retained