Sales Revenue is a(n)Multiple ChoiceOaccount andasset; Sales Discountsrevenue: Sales Returns and Allowancesrevenue; Cost of Goods Soldliability; Gross Profitis an expense account.

Sales revenue is neither asset nor liability. It is shown in income statement as revenue.

Answered: Sales Revenue is a(n)_____ account and…

Business

Accounting

Sales Revenue is a(n)_____ account and is an expense account.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 6DQ

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Sales Revenue is a(n)
Multiple Choice
O
account and
asset; Sales Discounts
revenue: Sales Returns and Allowances
revenue; Cost of Goods Sold
liability; Gross Profit
is an expense account.

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