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

Question

Quizplus · Accepted Answer

The closing process at the end of an accounting period closes all temporary accounts, including revenue, to zero to start off the next accounting perioAICPA FN: Measurement

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