Asked by
CAROLINE ASKEW
on Nov 15, 2024Verified
A credit is not the normal balance for
A) common shares.
B) revenues.
C) liabilities.
D) cash.
Common Shares
Shares of stock, which signify part ownership in a corporation, granting the holder the right to vote on corporate matters and to receive a portion of the company’s earnings via dividends.
Revenues
The cumulative income arising from transactions involving goods or services integral to a firm's primary business.
Liabilities
Financial obligations or debts owed by a company to creditors, representing claims against a company's assets.
- Establish the conventional balance for assorted account classifications.
Verified Answer
SB
Learning Objectives
- Establish the conventional balance for assorted account classifications.