Question

The accounts listed on the trial balance with a credit balance include

a. liability, owner s capital, and revenue accounts.
b. asset, liability, and owner s capital accounts.
c. owner s capital, revenue, and expense accounts.
d. liability, owner s capital, and expense accounts.

Answer 1

The correct answer for this question is "c. owner's capital, revenue, and expense accounts." The accounts listed on the trial balance with a credit balance include the owner's capital, the revenue, and the expense accounts. The trial balance is a two-column schedule with all the debit balances listed in one column and all the credit balances listed in the other.