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Which of the following statements regarding revenues and expenses is true?
A. Both revenues and expenses typically have credit balances.
B. Revenues and expenses are considered assets and liabilities, respectively.
C. Revenue is the same as cash.
D. Expenses decrease the amount of stockholders' equity.

Respuesta :

C. Revenue is the same as cash. Choose all of the following statements about revenues and costs that are accurate. The quantity of goods or services given to a customer multiplied by the price equals revenue.

Expenses are the business-related costs required to generate revenues. On the income statement, expenses and revenues are detailed. The quantity of goods or services given to a customer multiplied by the price equals revenue. Expenses are the business-related costs required to generate revenues. On the income statement, expenses and revenues are detailed. - Even if payment is not received until a later accounting period, revenues are recorded as soon as the goods or services are rendered.

C) There are three parties involved in each receivable transaction. D) Receivables develop when a company makes loans. Which of the following is true?

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