Credit balance of a nominal account shows _____________.

expenses in the business

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loss in the business

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income in the business

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assets of the business

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Solution

The correct option is B income in the business
Assets, expenses, losses, and the owner's drawing account will normally have debit balances.
Liabilities, revenues and sales, gains, and owner equity and stockholders' equity accounts normally have credit balances. These accounts will see their balances increase when the account is credited.

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