Question

In: Accounting

An account balance is A. the total of the credit side of the account B. the...

An account balance is

A. the total of the credit side of the account

B. the total of the debit side of the account

C. the difference between the increases (including the beginning balance) and decreases recorded in the account

D. the same as the balance sheet equation

E. not used in the real world

Solutions

Expert Solution

Ans: The correct option for the answer is option C i.e. the difference between the increases (including the beginning balance) and decreases recorded in the account

As per Accounting the Account Balance is difference between the Increases and decreases means debits and credit including opening balance therefore remaining balance left i.e. closing balance will be The final Account balance and it can be any of the balance i.e. debit and credit if its assets then it will be Debit balance and mostly time if its liabilities then it is Credit Balance

ekkarill92 answered 2 years ago
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