Which of the Following Statements Is True of Revenues

question 108

Multiple Choice

Which of the following statements is true of revenues?

• A)Revenues decrease equity,so a revenue account's normal balance is a credit balance.
• B)Revenues decrease equity,so a revenue account's normal balance is a debit balance.
• C)Revenues increase equity,so a revenue account's normal balance is a debit balance.
• D)Revenues increase equity,so a revenue account's normal balance is a credit balance.

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Definitions:

Meals a Year

A term referring to the total number of meals consumed or provided over the course of a year.

Indirect Quotations

Statements that report what someone has said without using the person's exact words, typically introduced by a phrase like "he said that" or "she believes that."

Direct Quotations

The exact words spoken or written by someone else, enclosed in quotation marks.

Quotation Marks

Symbols used in writing to indicate the beginning and end of someone else's words.