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Assuming normal account balances, the following statement is true when balancing a T-account or Ledger?
A. Assets normally have debit balances.
B. Liabilities normally have debit balances.
C. Revenues normally have debit balances.
D. Common Stock normally has a debit balance.

Respuesta :

The correct answer is Assets have normal debit balances. I am taking accounting so I know this is correct. Hope this helps. Please give brainliest I need five more
ogorwyne

Assuming normal account balances, the following statement is true when balancing a T-account or Ledger: Assets normally have debit balances. Option A.

What is an asset?

Anything that will or now has economic worth to a company is considered an asset. In essence, assets for businesses are any things that are under the company's control and ownership and are either currently valuable or have the potential to be profitable in the future. Patents, machines, and investments are some examples.

A liability is money you owe, whereas an asset is everything you own that increases your financial value. Personal assets include things like your house. other real estate, like a rental home or a business building. Savings and checking accounts.

Read more on assets here:https://brainly.com/question/25746199

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