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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
A company has a ten million dollar debit balance in the payable accounts. Given this information, which of the following is a TRUE statement?
A) It is NOT normal for payable accounts to have a debit balance
B) Not enough information provided, since normal account balances are different for each company.
C) Payable accounts don't tend to run this high, so this is not a normal balance.
D) It is ALWAYS normal for payable accounts to have a debit balance.
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Financial Accounting

Financial Accounting


Edition: 3rd
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antonio_johnantonio_john
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7 years ago
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Massachusetts Institute of Technology
-- Accounting

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tivo Author
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#2
7 years ago
I appreciate it once again, answered correctly
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