Liabilities normally carry a _______ balance and are shown in the ______________.
A)Debit;Statement of stockholders' equity
B)Debit;Income statement
C)Credit;Balance sheet

Question

Quizplus · Accepted Answer

Liabilities carry a credit balance and are shown on the balance sheet, which presents the company's assets, liabilities, and stockholders' equity at a specific point in time. Debits usually represent assets, expenses, and dividends, while credits typically represent liabilities, equity, and revenues.

Liabilities Normally Carry a _______ Balance and Are Shown in the ______________

Liabilities Normally Carry a _ Balance and Are Shown in the ________