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H3Ko H3Ko
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8 years ago
Which of the following statements is true of expenses?
A) Expenses decrease equity, so an expense account's normal balance is a debit balance.
B) Expenses increase equity, so an expense account's normal balance is a debit balance.
C) Expenses decrease equity, so an expense account's normal balance is a credit balance.
D) Expenses increase equity, so an expense account's normal balance is a credit balance.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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8 years ago
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H3Ko Author
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8 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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8 years ago
Happy to help Smiling Face with Open Mouth
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