A knowledge of the normal balances of accounts would help you spot which of the following as an error in recording?
A) a debit balance in the Dividends Declared account
B) a credit balance in an expense account
C) a credit balance in a liabilities account
D) a credit balance in a revenue account
Correct Answer:
Verified
Q77: For the basic accounting equation to stay
Q78: The normal balance of any account is
Q79: A credit to an asset account indicates
Q80: Which one of the following represents the
Q81: The recording process occurs
A) once a year.
B)
Q83: A credit to a liability account
A) indicates
Q84: The sequence of steps in the
Q85: The first step in the recording process
Q86: Evidence that would not help with determining
Q87: The Dividends Declared account
A) appears on the
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