What is the natural account balance for provisions? A. Debit and Credit B. Credit C. No balance D. Debit
Question
Solution 1
The natural account balance for provisions is B. Credit.
Here's why:
Provisions are amounts set aside to cover anticipated future liabilities or losses. They are considered as liabilities on a company's balance sheet. In accounting, liabilities are typically recorded as credit balances. Therefore Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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