{"id":53447,"date":"2024-04-15T23:54:07","date_gmt":"2024-04-15T23:54:07","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53447"},"modified":"2024-04-15T23:54:07","modified_gmt":"2024-04-15T23:54:07","slug":"the-balance-of-which-of-the-following-items-can-also-show-the-credit-balance","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-balance-of-which-of-the-following-items-can-also-show-the-credit-balance\/","title":{"rendered":"The balance of which of the following items can also show the credit balance?"},"content":{"rendered":"

[amp_mcq option1=”Cash” option2=”Bank” option3=”Investment” option4=”Stock” correct=”option3″]<\/p>\n

The correct answer is C. Investment.<\/p>\n

A credit balance is a balance that is greater than the debit balance. In accounting, a credit balance is a positive balance in an account. This means that the amount of money that is owed to the company is greater than the amount of money that the company owes.<\/p>\n

Cash, bank, and stock are all assets. Assets are items that a company owns and that have value. The balance of an asset account should always be a debit balance. This is because assets are things that the company owns, and the company owes money to the owners of the assets.<\/p>\n

Investments are assets that a company owns with the intention of selling them for a profit in the future. The balance of an investment account can be either a debit balance or a credit balance. This is because investments are assets, but they are not always sold for a profit. If an investment is sold for a profit, the balance of the investment account will be a credit balance. If an investment is sold for a loss, the balance of the investment account will be a debit balance.<\/p>\n

Therefore, the only item on the list that can have a credit balance is investment.<\/p>\n","protected":false},"excerpt":{"rendered":"

[amp_mcq option1=”Cash” option2=”Bank” option3=”Investment” option4=”Stock” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-53447","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\nThe balance of which of the following items can also show the credit balance?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-balance-of-which-of-the-following-items-can-also-show-the-credit-balance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The balance of which of the following items 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