If assets are valuable resources and asset accounts have debit balances, why do expense accounts also have

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If assets are valuable resources and asset accounts have debit balances, why do expense accounts also have debit balances?

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Financial Accounting Information For Decisions

ISBN: 9780073043753

4th Edition

Authors: John J. Wild

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Question Posted: Jul 19, 2024 10:02 PM

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Explain why if assets are valuable resources and asset accounts have debit balances why do expense accounts also have debit balances. What is meant by the normal balance?
If assets are valuable resources and asset accounts have debit balances, why do expense accounts also have debit balances?
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If assets are valuable resources and asset accounts have debit balances, why do expense accounts also have

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Financial Accounting Information For Decisions

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