Which of the Following Statements Is True of Revenue

question 1

Multiple Choice

Which of the following statements is true of revenue?

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

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Definitions:

Middle-Class Progressives

Individuals from the middle economic tier of society who advocate for social reforms and progressive policies to address issues like poverty, education, and healthcare.

Working-Class Progressives

Individuals from the working class who advocate for reforms and policies intended to improve workers' rights and reduce economic inequalities.

Progressive Themes

refer to forward-thinking ideas and reforms aimed at addressing issues of equality, social justice, and improving societal conditions.

Regulatory Legislation

Laws enacted to control, direct, or manage activities, businesses, or industries, often for the purposes of protection, safety, or fairness.