Which of the Following Statements About the Balance in a Revenue

question 138

Multiple Choice

Which of the following statements about the balance in a revenue account at the beginning of an accounting period is true?

• A) The beginning balance of a revenue account will always be zero.
• B) The beginning balance of a revenue account equals last period's ending balance.
• C) The beginning balance of a revenue account will always be higher than the previous periods ending balance.
• D) The beginning balance of a revenue account will equal to the amount of retained earnings for the previous period.

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