An account will have a debit balance if:
A)the amount of the credits exceeds the amount of the debits.
B)the amount of the debits exceeds the amount of the credits.
C)the account has more debit entries than credit entries.
D)it is a liability account.

Question

Quizplus · Accepted Answer

A debit balance occurs when the total amount of debits exceeds the total amount of credits in an account. This means that the account has a net negative balance or owes money. Conversely, an account with a credit balance has more credits than debits and has a net positive balance, indicating that it is owed money. Therefore, option B is the correct answer.

An Account Will Have a Debit Balance If