Which of the following groups of accounts normally have a debit balance?
A)assets and expenses
B)revenues and expenses
C)liabilities and owner's equity
D)assets and liabilities

Question

Quizplus · Accepted Answer

Assets and expenses typically have debit balances because they increase with debits and decrease with credits. This is reflected in the basic accounting equation, where debits on the left (assets) must equal credits on the right (liabilities and owner's equity).

Which of the Following Groups of Accounts Normally Have a Debit