Which of the following statements is false?
A)Expense accounts have a debit balance.
B)Revenue accounts have a credit balance.
C)Gain accounts have a credit balance.
D)Loss accounts have a credit balance.

Name: Which of the following statements is false? A)Expense accounts have a debit balance. B)Revenue accounts have a credit balance. C)Gain accounts have a credit balance. D)Loss accounts have a credit balance.
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Question

Quizplus · Accepted Answer

Loss accounts have a debit balance, not a credit balance.

Which of the Following Statements Is False