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Which of the following statements about revenues and expenses is correct? Multiple Choice If revenues are greater than expenses, the company has net income and
Which of the following statements about revenues and expenses is correct? Multiple Choice If revenues are greater than expenses, the company has net income and Retained Earnings decreases. If revenues are less than expenses, the company has a net loss and Common Stock increases to balance off the loss. If revenues are greater than expenses, the company has net income and Common Stock increases. If revenues are less than expenses, the company has a net loss and Retained Earnings decreases.
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