Increases in Revenues Will ________

question 11

Multiple Choice

Increases in revenues will ________.Increases in expenses will ________ .

• A) increase Retained Earnings; increase Retained Earnings
• B) increase Retained Earnings; decrease Retained Earnings
• C) decrease Paid in Capital; decrease Paid in Capital
• D) increase assets; increase liabilities

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Definitions:

Strict Liability

Legal responsibility for damages or loss without needing to prove negligence or fault.

Legal Concept

Fundamental principles or established precedents that form the basis for various laws and legal systems.

Environmental Lawsuits

Legal actions that seek to protect the environment, often involving disputes over compliance with environmental laws or liability for environmental damage.

Private Causes of Action

Legal rights allowing a private individual to sue for a violation of law or enforce a right provided by law.