Revenue, expense, asset, liability and owners' equity accounts normally have either a debit or a credit balance. Which of the following is incorrect?
A) Liability - credit
B) Revenue - debit
C) Asset - debit
D) Expense - debit
E) Owners' Equity - Credit
Correct Answer:
Verified
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Q20: A revenue account:
A) Is increased by debit
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Q22: Last year, assets of the Adventure Tours
Q23: In a hotel, which of the following
Q24: In the current year Ms B. Seen
Q26: On the 15th February a hotel sold
Q27: On 1st of March an event operator
Q28: For the current financial year, a tour
Q29: Last year, assets of Adventure Tours increased
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