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

Question

Quizplus · Accepted Answer

Assets are typically debited when they are acquired or increased, and expenses are always debited as they represent costs or expenditures incurred by the business.

Identify the Accounts That Would Normally Have Balances in the Debit