Kim billed her legal clients $12,000 for legal work completed during the month. This transaction will:

A) cause a $12,000 increase in Revenues and Liabilities.
B) cause a $12,000 increase in Revenues and a decrease in cash.
C) cause a $12,000 increase in Assets and Revenues.
D) not be recorded until the cash is collected.

Revenues

The full extent of revenue garnered from the commercial activities that are at the core of a company’s operational agenda, particularly through goods or services.

Assets

Resources owned by a company that have economic value and can be used to meet its future obligations.

Liabilities

are legal financial debts or obligations that arise during the course of business operations.