Question 18
The double-entry system of bookkeeping normally results in which of the following balances in the ledger accounts?
Credit: Liabilities, equity, and expenses
Credit: Assets and expenses
Credit: Liabilities, equity, and revenue
Credit: Liabilities and revenue
Correct
Correct! The double-entry system of bookkeeping normally results in:
Debit: Assets and expenses
Credit: Liabilities, equity, and revenue
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