Question: All else being equal, indicate how net sales revenue and net income are affected with an increase in each of the accounts in the chart
All else being equal, indicate how net sales revenue and net income are affected with an increase in each of the accounts in the chart below. The choices are increases, Decreases, and Not Change. All else being equal, an increase causes Net Sales in the: Revenue to: causes Net Income to: a. Sales revenue account balance increase increase decrease decrease not change not change b. Sales discounts account balance increase increase decrease decrease not change not change c. Bad debts expense account balance increase increase decrease decrease not change not change d. Cost of goods sold account balance increase increase decrease decrease not change not change
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