Which of the Following Statements About Revenues and Expenses Is

question 155

Multiple Choice

Which of the following statements about revenues and expenses is correct?

• A)Both revenues and expenses typically have credit balances.
• B)Revenues and expenses are considered assets and liabilities,respectively.
• C)Revenue is the same as cash.
• D)Expenses decrease the amount of stockholders' equity.

---

Definitions:

Nomothetic Approach

A scientific approach that seeks general laws and principles through the study of groups of individuals.

Secondary Traits

Personality traits that are less central to an individual's identity and more situational or context-dependent.

Achievement Needs

A person's desire for significant accomplishment, mastery of skills, control, or high standards.

Personality Theorist

A psychologist or scholar who specializes in the study of personality, developing theories to explain personal identity and individual differences.