Liabilities and a credit balance. Assets and a credit balance. Answer: B LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytical Skills AICPA Business Perspective Competencies: Strategic/Critical Thinking AICPA Functional Competencies: Measurement 2.3-16 For Salary payable, the category of account and its normal balance are: equity and a credit balance. Stockholders’ Assets and a debit balance. Liabilities and a credit balance. Assets and a credit balance. Answer: C LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytic Skills AICPA Business Perspective Competencies: Strategic/Critical Thinking AICPA Functional Competencies: Measurement 2.3-17 For Expenses, the category of account and its normal balance are: equity and a credit balance. Stockholders’ Assets and a debit balance. Liabilities and a credit balance. Equity and a debit balance. Stockholders’ Answer: D LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytic Skills AICPA Business Perspective Competencies: Strategic/Critical Thinking AICPA Functional Competencies: Measurement 2.3-18 For Revenues, the category of account and its normal balance are: equity and a credit balance. Stockholders’ Assets and a debit balance. Liabilities and a credit balance. equity and a debit balance. Stockholders’ Answer: A LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytic Skills
Liabilities and a credit balance. Assets and a credit balance. Answer: B LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytical Skills AICPA Business Perspective Competencies: Strategic/Critical Thinking AICPA Functional Competencies: Measurement 2.3-16 For Salary payable, the category of account and its normal balance are: Stockholders’ equity and a credit balance. Assets and a debit balance. Liabilities and a credit balance. Assets and a credit balance. Answer: C LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytic Skills AICPA Business Perspective Competencies: Strategic/Critical Thinking AICPA Functional Competencies: Measurement 2.3-17 For Expenses, the category of account and its normal balance are: Stockholders’ equity and a credit balance. Assets and a debit balance. Liabilities and a credit balance. Stockholders’ Equity and a debit balance. Answer: D LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytic Skills AICPA Business Perspective Competencies: Strategic/Critical Thinking AICPA Functional Competencies: Measurement 2.3-18 For Revenues, the category of account and its normal balance are: Stockholders’ equity and a credit balance. Assets and a debit balance. Liabilities and a credit balance. Stockholders’ equity and a debit balance. Answer: A LO: 2-3 Difficulty: 2 EOC Ref: S2-4 AACSB: Analytic Skills
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