A credit balance in which of the following accounts would indicate a likely error?
A) Fees Earned
B) Salary Expense
C) Common Stock
D) Accounts Payable

Question

Quizplus · Accepted Answer

A credit balance in Salary Expense would indicate a likely error because expense accounts typically have a debit balance. Expenses increase with debits and decrease with credits. A credit balance would suggest an incorrect entry.

A Credit Balance in Which of the Following Accounts Would