An Increase in a Revenue Account May Also Result in an Increase

question 66

True/False

An increase in a revenue account may also result in an increase in the accounts receivable account.

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Definitions:

Unamortized Premium

The portion of the bond premium that has not yet been amortized or deducted from the interest expense over the bond's life.

Liabilities Section

A segment of a balance sheet that lists obligations a company owes to outsiders, such as loans, accounts payable, and mortgages.

Carrying Value

The net amount at which an asset or liability is reported on the balance sheet, taking into account depreciation, amortization, and impairment costs, alongside its original cost.

Unamortized Premium

The portion of a bond premium that has not yet been amortized or gradually written off over time.