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Revenue Accounting: Understanding the Impact of Revenues on Owners' Equity
Which of the following statements about revenue is CORRECT? Group of answer choices Revenues decrease owners' equity, so a revenue account's normal balance is a credit balance. Revenues decrease owners' equity, so a revenue account's normal balance is a debit balance. Revenues increase owners' equity, so a revenue account's normal balance is a debit balance. Revenues increase owners' equity, so a revenue account's normal balance is a credit balance.

Revenues increase owners' equity, so a revenue account's normal balance is a credit balance.