Expenses normally carry a ________ balance and are shown in the ________.
A) Debit; Statement of stockholders' equity
B) Debit; Income statement
C) Credit; Balance sheet
D) Debit; Balance sheet
Answer: B
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A) Debit; Statement of stockholders' equity
B) Debit; Income statement
C) Credit; Balance sheet
D) Debit; Balance sheet
Answer: B
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