Which of the following statements about revenues and expenses is correct? Revenu
ID: 2391738 • Letter: W
Question
Which of the following statements about revenues and expenses is correct?
Revenue is the same as cash.
Both revenues and expenses typically have credit balances.
Revenues and expenses are considered assets and liabilities, respectively.
Expenses decrease the amount of stockholders’ equity.
Revenue is the same as cash.
Both revenues and expenses typically have credit balances.
Revenues and expenses are considered assets and liabilities, respectively.
Expenses decrease the amount of stockholders’ equity.
Explanation / Answer
Which of the following statements about revenues and expenses is correct?
So answer is d) Expenses decrease the amount of stockholders’ equity.