Practice Quiz

Vet Manager Exam Prep

Category - CVPM

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Which of the following is a general rule of debits and credits in the balances of accounts?
  1. The normal balance of an account is indicated by the side (debit or credit) that does not receive an increase
  2. The sum of increases recorded in an account is usually less than the sum of decreases
  3. Transactions are initially entered into a record called a journal
  4. The sum of debits is always equal to the sum of credits
Explanation
Answer: D- The sum of debits is always equal to the sum of credits is a general rule of debits and credits in the balances of accounts.
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