Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 3 - No. 43)
Which statement is true about a credit balance?
It means the credit side is greater than the debit side.
It's the result of transactions that increase owner's equity.
It represents a decrease in assets.
All of the above
Explanation
Credit balance is when credit is greater than debit. It increases the equity and decreases assets.
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