Identify the accounts that would normally have balances in the credit column of a business's trial balance
A) Revenues and liabilities.
B) Liabilities and expenses.
C) Revenues and expenses.
D) Assets and revenues.
E) Withdrawals and liabilities.

Question

Quizplus · Accepted Answer

Revenues and liabilities typically have credit balances in a trial balance, as revenues increase equity and liabilities represent obligations.

Identify the Accounts That Would Normally Have Balances in the Credit