The balance in a revenue account at the beginning of an accounting period will always be
A)zero.
B)last period's ending balance.
C)higher than the previous periods beginning balance.
D)equal to the amount of retained earnings for the previous period.

Question

Quizplus · Accepted Answer

Revenue accounts are temporary accounts that are closed at the end of each accounting period, so they start with a zero balance at the beginning of the next period.

The Balance in a Revenue Account at the Beginning of an Accounting