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Is account revenue an asset

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Anonymous

11y ago
Updated: 10/14/2022

No, it is an owner's equity account.

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Elta Frami

Lvl 10
2y ago

What else can I help you with?

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Is service revenue an asset account?

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Is rent revenue an asset account?

No, rent revenue is not an asset account; it is classified as a revenue account. Revenue accounts reflect earnings generated from business activities, such as rent collected from tenants. In contrast, asset accounts represent resources owned by a company that have economic value. While rent revenue contributes to a company's overall financial position, it does not meet the criteria of an asset.


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How do you audit an account?

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