Knowee
Questions
Features
Study Tools

Assets normally show: Group of answer choices credit balances. debit balances. debit and credit balances. both debit and credit balances.

Question

Assets normally show: Group of answer choices credit balances. debit balances. debit and credit balances. both debit and credit balances.
🧐 Not the exact question you are looking for?Go ask a question

Solution 1

Assets normally show debit balances.

Here's why:

  1. In accounting, assets are resources owned by a business that have future economic value. Examples of assets include cash, accounts receivable, inventory, prepaid expenses, land, buildings, and equipment.

  2. According to the rules of double-entry Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  

This problem has been solved

Similar Questions

Assets normally show: Group of answer choices credit balances. debit balances. debit and credit balances. both debit and credit balances.

find the XBRL element name for Other Nonoperating Income and indicate whether XBRL says that should normally be a debit or credit entry.

What is the natural account balance for provisions? A. Debit and Credit B. Credit C. No balance D. Debit

The debit and the credit columns of the journal are totaled.Select one:TrueFalse

Which one of the following is not a part of an account? Group of answer choices Credit side Trial balance Debit side Title

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.