Accounting Tutorial_Debits and Credits - Income Statement Accounts Chapter 8


Debits and credits - Income Statement Accounts

Principles of Debits and Credits
Debit and Credit Tutorial for Income Statement Accounts
Debit and Credit Income Statement Accounts Exercise

1. Income statement accounts are called?

Assets, Liabilities Assets, Liabilities and Revenue Revenue, Cost of Merchandise, Expenses

2. Money generated from the sale of goods and services is called?

Expense Revenue Liability

3. Money spent to produce revenue is called?

Sales Gross Profit Expense

4. An amount recorded on the left side of an asset account is called?

Debit Credit Expense