Asked by

Tamzidul Islam
on Nov 15, 2024

verifed

Verified

The normal balance of an asset is a credit.

Asset

Resources controlled by a business from which future economic benefits are expected to flow to the business, including both physical items and intangible properties.

Credit

An entry on the right side of a double-entry bookkeeping system that increases liabilities and equity or decreases an asset or expense.

  • Ascertain the regular balances associated with different kinds of accounts (assets, liabilities, equity).
verifed

Verified Answer

AR
Ashley RichardsNov 19, 2024
Final Answer:
Get Full Answer