Identify the accounts that would normally have balances in the credit column of a business's trial balance
A)Liabilities and expenses.
B)Assets and revenues.
C)Revenues and expenses.
D)Revenues and liabilities.
E)Withdrawals and liabilities.

Question

Quizplus · Accepted Answer

Revenues and liabilities normally have credit balances in a trial balance. Revenues increase equity, and liabilities represent obligations, both of which are recorded as credits.

Identify the Accounts That Would Normally Have Balances in the Credit