Answered: revenues ew less than expenses, what…

revenues ew less than expenses, what results on the income statement? What impact does an increase in revenue have on net income? What impact does an increase in revenue in expense have on income?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 17MC: Which statement is most directly affected by a change to net income? A. balance sheet B. income...

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Question

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revenues ew less than expenses, what results on the income statement?

What impact does an increase in revenue have on net income?

What impact does an increase in revenue in expense have on income?

What impact does an increase in revenue have on retainded earnings?

what impact does an increase in expense have on retained earnings?

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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