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Which of the following is a true statement? Revenue accounts are a subset of assets, and expense accounts are a subset of liabilities. Both revenue
Which of the following is a true statement?
Revenue accounts are a subset of assets, and expense accounts are a subset of liabilities. | |
Both revenue accounts and expense accounts are subsets of contributed capital. | |
Both revenue accounts and expense accounts are subsets of retained earnings. | |
Revenue accounts are a subset of cash, and expense accounts are a subset of accounts payable. |
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