In an account, when credit side total < debit side total, then, the balance is known as
A. Negative balance
B. Debit balance
C. Positive balance
D. Credit balance
Answer: Option B
Solution(By Examveda Team)
In an account, when credit side total < debit side total, then, the balance is known as Debit balance. It is the positive balance in the left side of the account.This Question Belongs to Commerce >> Accounting
Related Questions on Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Join The Discussion