A. Debit balance
B. Credit balance
C. Cash balance
D. Neither debit nor credit balance
Related Mcqs:
- Which of the following account with normal balance is shown at the debit side of a trial balance?
A. Rent income account
B. Creditors account
C. Unearned income account
D. Cash account - Which of the following account with normal balance is shown at the credit side of a trial balance?
A. Cash account
B. Bank account
C. Equipment account
D. Accrued expenses account - The normal balance of asset account is____________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance - If debit balance is greater than creadit balance then the account blance will be__________?
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance - The normal balance of capital account is_____________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance - Which of the following is the normal balance of a rent expense account?
A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance - Debit balance = Credit balance in a trial balance indicates that:
A. No error in recording transactions
B. No error in posting entries to ledger accounts
C. Account balances are correct
D. Mathematically Capital+Liabilities=Assets - Building account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital - An account records the ___________ in the balance of an item?
A. Increase
B. Decrease
C. Increase or decrease
D. Appreciation - Which of the following is the closing balance of a ledger account?
A. Balance c/d
B. Balance b/d
C. Balance e/d
D. Balance f/c
The correct answer to the question: "The normal balance of liability account is____________?" is "Credit balance ".
