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Question
If the total of credit side of an account exceeds the total of its debit side, it indicates ________________.
If the total of credit side of an account exceeds the total of its debit side, it indicates ________________.
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Solution
The correct option is D Credit balance
If the total of the debit side exceeds the total of credit side then this would be represented by a debit balance and opposite is true for a credit balance. When there is only one entry in an account, then obviously that item is the balance or difference between the two sides.
If the total of the debit side exceeds the total of credit side then this would be represented by a debit balance and opposite is true for a credit balance. When there is only one entry in an account, then obviously that item is the balance or difference between the two sides.
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