Which of the following statements is false? Revenues are a positive factor in the computation of...
Which of the following statements is false? Revenues are a positive factor in the computation of net income. Revenues are increased by debits. Revenues increase stockholders' equity. Revenues have normal credit balances.
Homework Answers
Ans. Revenues are increased by debits.
Explanation: Revenues have credit balances. So,if revenues increased, then the revenue account would be credited. In other words, we can say that revenues are increased by credits.
The other options are providing the correct (true) explanation for revenue.
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