Asked by Albin Mathew on Jun 27, 2024
Verified
Revenues are increases in equity from a company's earning activities.
Revenues
The total amount of money received by a company for goods sold or services provided during a certain time period.
Equity
The residual interest in the assets of an entity after deducting liabilities, often referred to as shareholder's equity or owner's equity.
- Apprehend the basics of owner financing, investment operations, and the role of revenues, costs, and investments in affecting equity.
Verified Answer
KW
Kyrsten WilliamsJun 28, 2024
Final Answer :
True
Explanation :
Revenues are recognized when a company provides goods or services to its customers in exchange for payment. This results in an increase in the company's equity or net assets.
Learning Objectives
- Apprehend the basics of owner financing, investment operations, and the role of revenues, costs, and investments in affecting equity.