Asked by Vellanira Macado on May 20, 2024
Verified
The monetary value charged to customers for the performance of services sold is called a (n)
A) asset
B) net income
C) capital
D) revenue
Monetary Value
The value of an asset, service, or amount expressed in terms of money.
Performance of Services
The execution of tasks or provision of work that delivers value to clients or customers, typically in exchange for payment.
Revenue
The income earned by a company from its business activities, typically from the sale of goods or services.
- Gain insight into the procedures for documenting and reporting corporate transactions and their influence on financial statements.
Verified Answer
MA
madonna abenojaMay 23, 2024
Final Answer :
D
Explanation :
Revenue represents the money a company receives from the sale of its goods or services. In this context, it refers to the monetary value charged to customers for the performance of services sold, which is essentially the income generated by the service provider.
Learning Objectives
- Gain insight into the procedures for documenting and reporting corporate transactions and their influence on financial statements.