Which of the Following Statements About Revenue and Expense Accounts

question 50

Multiple Choice

Which of the following statements about revenue and expense accounts is correct?

• A)Revenue accounts are a subset of assets,and expense accounts are subcategories of liabilities.
• B)Both revenue accounts and expense accounts are subcategories of assets.
• C)Both revenue accounts and expense accounts are subcategories of Retained Earnings.
• D)Revenue accounts are a subcategory of Cash and expense accounts are a subcategory of Accounts Payable.