Which of the following types of accounts has a normal debit balance?
A) Withdrawals
B) Assets
C) Expenses
D) All of these answers are correct.

Question

Quizplus · Accepted Answer

Withdrawals, assets, and expenses all have a normal debit balance in accounting. Withdrawals represent amounts taken out by the owner from the business for personal use, assets are resources owned by a business that have economic value, and expenses are the costs incurred by a business in the process of earning revenue. All of these increase with a debit and decrease with a credit, hence they have a normal debit balance.

Which of the Following Types of Accounts Has a Normal