Accountıng I Deneme Sınavı Sorusu #1313658

The company will receive assets (for example, cash) in exchange for goods sold and services rendered. Therefore, company’s assets and owner’s equity will increase. What is the increase in owner’s equity created by delivering goods or services to customers is called?


Revenue

Assets

Expenses

Capital

Withdrawal


Yanıt Açıklaması:

The company will receive assets (for example, cash) in exchange for goods sold and services rendered. Therefore, company’s assets and owner’s equity will increase. The increase in owner’s equity created by delivering goods or services to customers is called revenue. The company uses as many revenue accounts as needed. Examples include Sales Revenue account, Service Revenue account, Interest Revenue account, or Rent Revenue account.

Yorumlar
  • 0 Yorum