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Which of the Following Is a True Statement

Question 55

Multiple Choice

Which of the following is a true statement?


A) Revenue accounts are a subset of assets,and expense accounts are a subset of liabilities.
B) Both revenue accounts and expense accounts are subsets of contributed capital.
C) Both revenue accounts and expense accounts are subsets of retained earnings.
D) Revenue accounts are a subset of cash,and expense accounts are a subset of accounts payable.

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