In a statement of owner's equity,decreases in owner's equity result from ________.
A)owner's contributions
B)net losses
C)net income
D)revenues earned

Question

Quizplus · Accepted Answer

Decreases in owner's equity result from net losses, which means the company expenses exceed its revenues. Owner's contributions (A) increase owner's equity, net income (C) increases owner's equity as well, and revenues earned (D) also increases owner's equity.

In a Statement of Owner's Equity,decreases in Owner's Equity Result