Revenue and expense accounts
A)are permanent accounts.
B)are temporary accounts.
C)reflect cumulative changes in each account since the organization of the firm.
D)record all cash receipts and cash disbursements.
E)none of the above

Question

Quizplus · Accepted Answer

Revenue and expense accounts are temporary accounts that are reset to zero at the end of each accounting period. They reflect revenue earned and expenses incurred during that period and are used to calculate the net income or loss for the period.

Revenue and Expense Accounts