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Andrej [43]
3 years ago
15

Identify the statement below that is incorrect. The normal balance of accounts receivable is a debit. The normal balance of divi

dends is a debit. The normal balance of deferred revenues is a credit. The normal balance of an expense account is a credit. The normal balance of the owner's equity account is a credit.
Business
1 answer:
fredd [130]3 years ago
6 0

Answer:

The normal balance of an expense account is a credit

Explanation:

As we know that

The debit sections records assets and expenses side

whereas, the credit sections records revenue, stockholder equity, and the liability side.        

In the given case, the normal balance of account receivable is a debit balance as it is a current asset plus the dividend has also the debit balance

The deferred revenues has credit normal balance plus the normal balance owner equity account has a credit balance

But the normal balance of the expense account has debit balance instead of credit balance

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After finishing college, Nathan joined his uncle's company in Miami, FL, a company that buys bauxite, copper, and other minerals from the country of Chile, and brings them into the U.S. Everyday, he brokers trades with mines in Chile. His uncle's company is in the export-The statement is False

Explanation:

From the information given in the question it is clear that company that buys bauxite, copper, and other minerals from the country of Chile, and brings them into the U.S.-S<u>o Nathan uncles company is an importer of bauxite, copper, and other minerals </u>

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3 years ago
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Colleen Matthews had just turned 22 when her hard work finally started to pay off. Six months earlier Colleen graduated from a s
const2013 [10]

Answer:

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There will be an increase in the executives wealth, and since this increase cannot be traced to any legal income source, it will become taxable income, with the calculated penalties and fines.

Explanation:

The net worth method specifies that any increase in wealth, which is not traced to non-taxable sources, should be determined as a taxable income for the period under review.  Ordinarily, the net worth is the difference between assets and liabilities.  Since the executives use the money personally at their convenience, this will increase their personal wealth.

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3 years ago
from a company's viewpoint, the existence of an active, liquid, well-organised market in existing shares:
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From a company's viewpoint, the existence of an active, liquid, well-organized market in existing shares A. facilitates the raising of further capital in the secondary market.

<h3>What is a secondary market?</h3>

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The types of secondary markets include:

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A. facilitates the raising of further capital in the secondary market.

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C. encourages successful primary market issues.

D. is of little or no consequence.

Thus, from a company's viewpoint, the existence of an active, liquid, well-organized market in existing shares A. facilitates the raising of further capital in the secondary market.

Learn more about secondary markets at brainly.com/question/14484986

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irina [24]

Answer:

The statement is: False.

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