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Which accounts normally reflect debit balances

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Problem 1: A businessman owns an advertising company and a printing business. Based on this given situation, which concept supports the idea that there are three separate persons with separate assets, liabilities, income, and expenses?

a. Periodicity concept

b. Business entity principle

c. Matching concept

d. Concept of equality of value received and value given up

Problem 2: The following accounts normally reflect debit balances in an unadjusted trial balance

a. Assets, liabilities, expenses, and withdrawals

b. Assets, withdrawals, expenses, and income

c. Assets, withdrawals, expenses and losses

d. Assets, capital, withdrawals, and expenses

Reference no: EM132739356

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