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The following accounts shall have a normal credit balance:
O a Capital and reserve accounts;
O b. Income accounts;
Oc. Contingent liability accounts
Od Liability
Oe. All



Answer :

GinnyAnswer

Final answer:

Liabilities in accounting have a normal credit balance, indicating what the company owes. Accounts like Accounts Payable fall into this category.


Explanation:

Liabilities are obligations or debts that a company owes to others, and they typically have a normal credit balance. This includes accounts like Accounts Payable and Notes Payable. In accounting, a credit increases a liability account, indicating what the company owes.


Learn more about Liabilities and Accounting Principles here:

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