The normal balance of asset account is A. Credit balance B. Debit balance C. Cash balance D. Neither debit nor credit balance
Question
The normal balance of asset account is A. Credit balance B. Debit balance C. Cash balance D. Neither debit nor credit balance
Solution
The normal balance of an asset account is B. Debit balance.
Here's why:
In accounting, each type of account (assets, liabilities, equity, revenue, and expenses) has a normal balance which is either a debit or a credit.
Assets increase on
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