Revenues increase owners' equity because:
A) Revenues increase net income,which increases retained earnings.
B) Revenues are recorded by a debit.
C) Of the matching principle.
D) The conservatism principle requires revenues be recognized with an increase to owners' equity.
Correct Answer:
Verified
Q99: In February of each year,the Carlton Hotel
Q100: Brett Tarek,a manager at D&J Landscaping,Inc.needs information
Q101: The matching principle:
A)Applies only to situations in
Q102: A journal entry to recognize an expense
Q103: A journal entry to recognize an expense
Q105: Net income is:
A)The excess of debits over
Q106: A journal entry that records revenue must
Q107: If the trial balance has a higher
Q108: On June 27,Healthy Life Services,Inc.performed extensive tests
Q109: Clinton prepares monthly financial statements.Which of the
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