Which of the Following Is an Example of a Revenue

question 53

Multiple Choice

Which of the following is an example of a revenue agency?

• A)Federal Reserve System
• B)Agricultural Extension Service
• C)U.S.Customs Service
• D)Securities and Exchange Commission

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Definitions:

Debit Entries

Accounting records that increase an asset or expense account, or decrease a liability, equity, or revenue account.

Credit Entries

Accounting entries that increase liability or equity accounts or decrease asset or expense accounts.

Cash Account

An account recording all transactions involving cash inflows and outflows.

Owner's Capital

The amount of money and other assets owned by the owner of a company that has been invested in the business.