If a Revenue Account Is Credited the Revenue Account Is

question 7

True/False

If a revenue account is credited the revenue account is increased.

---

Definitions:

Fees Earned

Revenue generated from services provided by a company or an individual.

Statement Of Owner's Equity

A financial document that shows the changes in the equity section of the balance sheet over a reporting period, including contributions, withdrawals, and earnings.

Telephone Expense

The cost incurred by a business for the usage of telephone services, considered an operational expense in financial reporting.

Fees Earned

Income generated from services provided or work completed.