The account used to record increases in owner's equity from the sale of goods or services is
A) the revenue account.
B) the Cash account.
C) the capital account.
D) the drawing account.

Question

Quizplus · Accepted Answer

The revenue account is used to record increases in owner's equity from the sale of goods or services. This account is also known as the sales account or income account. It is a temporary account that is closed at the end of the accounting period and the balance is transferred to the owner's equity account.

The Account Used to Record Increases in Owner's Equity from the Sale