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Which of the following statements about the normal balance of an account is correct? Multiple Choice Assets have debit balances and liabilities have credit balances.

Which of the following statements about the normal balance of an account is correct?

Multiple Choice

Assets have debit balances and liabilities have credit balances.

Assets and liabilities have credit balances.

Assets have credit balances and liabilities have debit balances.

Assets and liabilities have debit balances.

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