The reason that revenue is recorded by a credit entry to a revenue account is:
A) That revenue always involves a debit to the Cash account.
B) Explained by the recognition principle.
C) Explained by the matching principle.
D) That revenue increases equity.
Correct Answer:
Verified
Q88: A journal entry which records revenue must
Q89: The following transactions occurred during May, the
Q90: The reason that both expenses and dividends
Q91: The following transactions occurred during March, the
Q92: Davis Limited, a music group, entertained at
Q94: The following transactions occurred during May, the
Q95: On June 27, Healthy Life Services Limited
Q96: The following transactions occurred during May, the
Q97: At the end of October, Flagship Marina
Q102: A journal entry to recognize an expense
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents