What is the normal balance for liability accounts?

Debit

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Credit

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Either A or B

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None of these

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Solution

The correct option is B
Credit

Liability accounts normally have credit balances.

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Similar questions

Subsidiary books do not have both the debit and credit sides. They simply have either debit or credit balance. Is this statement correct?

Under ___ method , the capital account may have either debit or credit balances.

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