Which of the Following Statements Is Correct

question 41

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.

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Definitions:

Field Devices

Equipment such as sensors, valves, actuators, and transmitters located in the physical area being monitored or controlled.

Fieldbus Communication System

A network system for industrial control systems used to connect and communicate with field devices like sensors and actuators.

Daisy-Chain Topology

A network configuration where each device is connected in series to the next, forming a linear chain for communication or power distribution.

Data Communication

The exchange of data between two or more devices via any form of transmission medium.