the normal balance of each of the five basic categories of balance sheet and income statement accounts are either debit or credit balanced. Which of the following is not correct?

Ownership equity: A debit balanced account

Liability: A credit balanced account

Expense: A debit balanced account

Asset: Debit balanced account

2)

A direct expense is:

		controllable by the accountant employed by the business
		deducted from a department's contributory income
		the responsibility of, and controllable by, a department head
		allocated to a department without a supporting invoice