During an accounting period, a business has numerous transactions affecting each of the following accounts. Select for each account what it is likely to have:
-Insurance expense
A) debit entries only
B) credit entries only
C) both debit and credit entries

Question

Quizplus · Accepted Answer

Insurance expense is typically an expense account, which usually has debit entries to record the cost of insurance consumed during the period.

During an Accounting Period, a Business Has Numerous Transactions Affecting