Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 5

For the following questions, circle the best respones.

All of the following are appropriate revenue accounts except

a. Fees.

b. Sales.

c. Gross Profit.

d. Service Revenues.

e. Interest Revenues.

Step 1 of 6

(a)

Revenue accounts represent the revenue earned when products are sold or services are performed. They typically have a credit balance. Fees is an appropriate revenue account.