What type of account will normally contain a debit balance?
A) Asset.
B) Liability.
C) Owners' equity.
D) Revenue.

Name: What type of account will normally contain a debit balance? A) Asset. B) Liability. C) Owners' equity. D) Revenue.
Brand: Quizplus
Rating: 4.8 (44 reviews)

Question

Quizplus · Accepted Answer

An Asset account will normally have a debit balance, as it represents something of value that the company owns or controls (e.g. cash, inventory, equipment). When the company acquires more assets, it debits the account to increase the balance.

What Type of Account Will Normally Contain a Debit Balance