Asked by Scott Seeto on Apr 26, 2024
Verified
Revenue accounts are increased by credits.
Revenue Accounts
Accounts that track the income generated from normal business operations, including sales revenue, service revenue, and interest revenue.
Credits
Accounting entries that increase liabilities or equity or decrease assets, representing the opposite of debits.
- Acquire knowledge about the various classifications of accounts (assets, liabilities, equity) and their typical balances.
Verified Answer
AB
Arevalo BotchokApr 27, 2024
Final Answer :
True
Explanation :
Revenue accounts are credited to increase their balance.
Learning Objectives
- Acquire knowledge about the various classifications of accounts (assets, liabilities, equity) and their typical balances.
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