Question

expense have ____ balance while income have ____ balance​

Answer 1

expense have normal balance while income high balance

Answer 2

ANSWER :

Expense has a debit balance while income has a credit balance.

• Expense is the cost incurred in producing and providing the goods and services. Normally, expenses have debit balances.

• Since expense accounts will always show debit balance, it signifies the amount of expenses incurred by the business under that account head.

• Excess of revenue over expenses is called income. Generally, incomes have credit balances.

• Since income accounts shows show credit balance, it signifies the amount of income earned by the business under that account head.