Multiple Choice
Which of the following statements about revenue is CORRECT?
A) Revenues increase owners' equity, so a revenue account's normal balance is a debit balance.
B) Revenues decrease owners' equity, so a revenue account's normal balance is a credit balance.
C) Revenues increase owners' equity, so a revenue account's normal balance is a credit balance.
D) Revenues decrease owners' equity, so a revenue account's normal balance is a debit balance.
Correct Answer:
Verified
Correct Answer:
Verified
Q13: Which of the following is the last
Q14: A business purchases equipment for cash in
Q16: The accounting process of copying a transaction
Q17: A listing of all account titles in
Q19: Which of the following are accrued liabilities?<br>A)Salary
Q21: Which of the following is the order
Q22: A business collects cash from a customer
Q23: Which of the following statements is TRUE?<br>A)A
Q48: A trial balance summarises a ledger by
Q79: Which of the following is NOT part