If a revenue account is credited, this must increase shareholders' equity.
Correct Answer:
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Q2: The normal balance of the Dividends Declared
Q3: In its simplest form, a T account
Q4: The double-entry accounting system records the dual
Q5: Revenue is only recorded when cash is
Q7: The double-entry system of accounting refers to
Q9: A decrease in a liability account is
Q10: Collection of an account receivable will increase
Q11: An expense account is a subdivision of
Q12: Revenues are a subdivision of shareholders' equity.
Q26: Assets are decreased with a credit.
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