Question

Which of the following normally has a credit balance:
(b)​

Answer 1

a “credit balance” refers to an amount that a business owes to a customer. It's when a customer has paid you more than the current invoice stipulates. You can locate credit balances on the right side of a subsidiary ledger account or a general ledger account.

credit balance on your billing statement is an amount that the card issuer owes you. Credits are added to your account each time you make a payment. ... If the total of your credits exceeds the amount you owe, your statement shows a credit balance. This is money the card issuer owes you.

In accounting, a 'credit' with a normal balance is stored as a negative - credit accouts are: a) balance sheet accounts of Liablities and Equities and b) P&L Revenue accounts. Asset account and Expense accounts are normally debit balances, and debits are stored as positive in most accounting

Answer 2

Answer:

The correct answer is option d) All the above.

Explanation:

(Disclaimer: Incomplete question)

Which of the following normally has a credit balance:

• A) Accounts payable account
• b) Salaries outstanding account
• c) Reserve fund account
• d) All the above.

So, the correct answer is  option d) All the above.

Because increases in any account are often bigger than losses, the correct answer is D) An account's allocated normal balance is on the side where increases go. As a result, the owner's drawing, spending, and asset accounts typically have negative balances. Accounts for liabilities, income, and owner capital typically include credit balances. So, all of the above options has a credit balance.

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