-Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that have debit balances on that particular financial statement).
A)Account numbers 1,3,and 5 normally have debit balances.
B)Account numbers 2,4,and 5 normally have debit balances.
C)Account numbers 2,5,and 8 normally have debit balances.
D)Account numbers 4,5,and 6 normally have debit balances.

Question

-Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that have debit balances on that particular financial statement).
A)Account numbers 1,3,and 5 normally have debit balances. 
B)Account numbers 2,4,and 5 normally have debit balances. 
C)Account numbers 2,5,and 8 normally have debit balances. 
D)Account numbers 4,5,and 6 normally have debit balances.

Quizplus · Accepted Answer

Asset,expense,and dividend accounts normally have debit balances;liability,stockholders' equity,and revenue accounts normally have credit balances.Asset accounts include cash and accounts receivable.

-Which of the Following Is a True Statement? (Note: a Statement