Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following statements about revenue an

Which of the following statements about revenue and expense accounts is correct? A. Revenue accounts...

50.1K

Verified Solution

Question

Accounting

Which of the following statements about revenue and expense accounts is correct?

A. Revenue accounts are a subset of assets, and expense accounts are subcategories of liabilities.

B. Both revenue accounts and expense accounts are subcategories of assets.

C. Both revenue accounts and expense accounts are subcategories of Retained Earnings.

D. Revenue accounts are a subcategory of Cash and expense accounts are a subcategory of Accounts Payable.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Brokeback Towing Company is at the end of its accounting year, December 31, 2017. The following...

Accounting
Q

Part 3 Match each diagram with its correct description Diagrams will be used once A...

Biology
Q

4 In 1980 the minimum wage was 3 10 in the US Use the CPI...

Statistics
Q

Question 10 Multiple Choice Worth 1 points Linear Functions Fit to Data MC The graph...

Statistics
Q

Use the Fundamental Theorem to evaluate the definite integral exactly 8 x x dx

Calculus
Q

A company has 20,000 shares of Preferred Shares outstanding paying 0.30 cents dividend per share....

Accounting
Q

15. At December 31,2017 , ABC Company has the following: Common stock, $10 par, 10,000...

Accounting
Q

Perpetual inventory using LIFO Assuming a perpetual inventory system and using the last-in, first-out (LIFO)...

Accounting
Q

Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2021,...

Accounting
Q

Hamlet Ltd. adheres to ASPE.On Hamlet Ltd.s statement of cash flows (indirect method) for calendar...

Accounting
Q

How do we calculate the income tax value for bad debts in the above question....

Accounting
Q

NEED URGENT! The following table gives the attractions of 3 leading laptop brands among 5...

Finance