Which of the following classifications of accounts has/have a normal credit balance?
A) Drawing
B) Revenues
C) Liabilities
D) Revenues and liabilities
E) All of these

Question

Quizplus · Accepted Answer

Revenues and liabilities both have a normal credit balance in accounting. Revenues increase with credits and decrease with debits, while liabilities, being on the right side of the accounting equation, increase with credits.

Which of the Following Classifications of Accounts Has/have a Normal