Which of the following groups of accounts have a normal debit balance?
A) revenues, liabilities
B) assets, liabilities
C) liabilities, expenses
D) assets, expenses

Question

Quizplus · Accepted Answer

Assets and expenses have normal debit balances, which means that they increase with a debit entry and decrease with a credit entry. The other three groups have normal credit balances, which means that they increase with a credit entry and decrease with a debit entry.

Which of the Following Groups of Accounts Have a Normal