Which of the following statements is false? Select one: a. Revenues are increased by debits b. Revenues increase owner’s equity. c. Revenues have normal credit balances. d. Revenues are a positive factor in

Which of the following statements is false? Select one: a. Revenues are increased by debits b. Revenues increase owner’s equity. c. Revenues have normal credit balances. d. Revenues are a positive factor in

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 3QY

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Question

Which of the following statements is false?

Select one:

a. Revenues are increased by debits

b.
Revenues increase owner’s equity.

c. Revenues have normal credit balances.

d. Revenues are a positive factor in the computation of net income.

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