Moving to another question will save this response. uestion 11 Why are revenues increased with a credit? @ a. The statement is wrong: revenues are debited. b. They have the same rules of debits and credits as the retained earnings account c. Credits mean something good has happened to the firm and revenues are good. d. They are always received in cash, which is debited. Thus revenues are credited. A Moving to another question will save this response. L A Moving to another question will save this response. Question 13 Which of the following statements about permanent accounts is not true? a. The balances of permanent accounts accumulate over time. b. Permanent accounts appear on the pre-closing trial balance. C. Permanent accounts appear on the balance sheet. d. Some permanent accounts appear on the income statement A Moving to another question will save this response. Moving to another question will save this response. Question 15 When revenues are lower than expenses, which of the following is true? a. a net income results b. a net loss results c. assets equal liabilities d. assets are increased A Moving to another question will save this response