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Question
Which of the following account will invariably have a credit balance?
Which of the following account will invariably have a credit balance?
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Solution
The correct option is C Account payable account
Accounts payable is money owed by a business to its suppliers for the goods or materials purchased from the supplier on credit. It is shown as a liability on a company's balance sheet. Being a liability, accounts payable has credit balance.
Accounts payable is money owed by a business to its suppliers for the goods or materials purchased from the supplier on credit. It is shown as a liability on a company's balance sheet. Being a liability, accounts payable has credit balance.
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