money, card, business @ Pixabay

A credit balance in which of the following accounts would indicate a likely error?

money, card, business @ Pixabay

A) Checking B) Savings C) Loan D) All of the Above.

The answer is C: “Loan.” The other three options are all types of assets, not liabilities.

What a Credit Balancing Is?

The Difference Between Accounts A credit balance in which of the following accounts would indicate a likely error?

A) Checking B) Savings C) Loan D) All of the Above.

The answer is C: “Loan.” The other three options are all types of assets, not liabilities. Written by Brian-Scott McCallum on February 15th, 2018.

The content that follows discusses how asset and liability account balances can fluctuate over time as transactions occur within your checking or savings account(s).

An asset is something you own while an expense represents money flowing out from your bank account to another party such as a business for services rendered .

This could be anything from groceries or gasoline to tuition.

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