CIMA BA3 · Chapter 3 · Question 7 of 10
Which of the following accounts would normally have a credit balance?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Trade payables
Explanation
Trade payables are a liability and so normally have a credit balance. Drawings, inventory (an asset) and carriage inwards (an expense) normally have debit balances.
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