Which of the following statements is incorrect?
A)The normal balance of accounts receivable is a debit.
B)The normal balance of dividends is a debit.
C)The normal balance of unearned revenues is a credit.
D)The normal balance of an expense account is a credit.
E)The normal balance of common stock is a credit.

Question

Quizplus · Accepted Answer

The normal balance of an expense account is a debit, not a credit. Expenses are debited to increase them and credited to decrease them.

Which of the Following Statements Is Incorrect