Difference between revisions of "Account normal balance"
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==Definitions== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[ | + | :[[Normal balance of an account]]. The side of an [[financial account|account]] that increases by the [[rules of debit and credit]]. |
==Related concepts== | ==Related concepts== | ||
Revision as of 01:43, 17 December 2018
Account normal balance (alternatively known as normal balance of an account; hereinafter, the Balance) is the side of an account that increases by the rules of debit and credit.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Normal balance of an account. The side of an account that increases by the rules of debit and credit.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
