Which of the Following Statements About Revenue Is CORRECT

question 161

Multiple Choice

Which of the following statements about revenue is CORRECT?

• 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:

Potential Outlier

An observation in a dataset that is significantly different from the rest, possibly indicating an error or a unique case.

Histogram

A graphical representation of data using bars of different heights where each bar groups numbers into ranges.

Class Size

The number of students enrolled in a particular class or educational setting.

Histogram

A graphical representation of the distribution of numerical data through bars of different heights, which illustrate the frequencies of data within specified intervals.