alleryStart learning →Debit or credit balance?
Exercise and reference answers
- Left
- Debit
- Items
- Item
- Assets
- Answer
- Debit
- Item
- Expenses
- Answer
- Debit
- Item
- Receivables
- Answer
- Debit
- Item
- Liabilities
- Answer
- Credit
- Item
- Revenues
- Answer
- Credit
- Item
- Payables
- Answer
- Credit
- Right
- Credit
- Instructions
- Swipe left for a debit balance, right for a credit balance.
Explanation
_Source: syllabus Accountancy, Ch 6 'Trial Balance and Rectification of Errors'_
Browse more AP Intermediate 1st Year questions and exercises →