For Owner,Capital,the category of account and its normal balance is ________.
A) equity and a credit balance
B) assets and a debit balance
C) equity and a debit balance
D) assets and a credit balance

Question

Quizplus · Accepted Answer

Owner's Capital falls under the equity category and typically has a credit balance. Equity accounts increase with credits and decrease with debits, reflecting the owner's claim on the business assets.

For Owner,Capital,the Category of Account and Its Normal Balance Is