For each of the following accounts, indicate whether its normal balance is on the credit side or the debit side of the T account.

a. Credit side
b. Debit side

Common Stock
ANSWER: a
Accounts Receivable
ANSWER: b
Accounts Payable
ANSWER: a
Interest Revenue
ANSWER: a
Copyrights
ANSWER: b

Business

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Owners of trade secrets must make reasonable efforts to maintain the secrecy or the legal protection is lost.

a. true b. false

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Indicate whether the statement is true or false

Business