Which of the Following Statements Is Correct

Multiple Choice

Which of the following statements is correct?

A) Expense accounts result in decreases in net income and stockholders' equity and therefore have credit balances.
B) Revenue accounts result in increases in net income and stockholders' equity and therefore have debit balances.
C) Loss accounts result in decreases in net income and stockholders' equity and therefore have debit balances.
D) Gain accounts result in increases in net income and stockholders' equity and therefore have debit balances.