Question

A debit balance always signifies a balance in the Liabilities Account. Is it correct ??

❌NO COPIED ANSWERS❌

Answer 1

$\huge\mathbb\green{ANSWER!!!!}$

●A debit balance always signifies a balance in the asset account. Assets, except for the Accumulated Depreciation accounts, must carry a Debit Balance.

Answer 2

Hey mate,

A DEBIT BALANCE ALWAYS SIGNIFIES A BALANCE IN AN ASSET ACCOUNT SO IT IS WRONG.

Hope it helps!