Accounting - Normal Balances
Authored by DG M
Other, Business
10th - 12th Grade
normal balance covered
Used 28+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the normal balance for an Asset?
Credit balance
Debit balance
2.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the normal balance for an Expense account?
Debit balance
Credit balance
3.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the normal balance for an Income account?
Credit balance
Debit balance
4.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
The normal balance for Liability account is
Debit balance
Credit balance
Tags
normal balance
normal balance
bookkeeping
credit
debit
5.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
The normal balance for Drawings or Withdrawals is
Debit balance
Credit balance
Tags
normal balance
bookkeeping
debit
credit
basic accounting
6.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the normal balance for the Capital account?
Credit balance
Debit balance
Tags
normal balance
bookkeeping
debit
credit
basic accounting
7.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
What is the normal balance for Owner's drawings?
Credit balance
Debit balance
Tags
normal balance
bookkeeping
debit
credit
basic accounting
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