The total credits recorded in revenue accounts must equal the total debits recorded in expense accounts.
BT: Knowledge

Name: The total credits recorded in revenue accounts must equal the total debits recorded in expense accounts. BT: Knowledge
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Quizplus · Accepted Answer

Revenue accounts and expense accounts are separate components of the income statement, and their totals do not need to equal each other. Revenue accounts record income, while expense accounts record costs incurred.

The Total Credits Recorded in Revenue Accounts Must Equal the Total