Which of the Following Statements Regarding Revenues and Expenses Is

question 88

Multiple Choice

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.

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Definitions:

Bioprospecting

Occurs when companies search in poor or indigenous areas for new biological entities that they can exploit.

Biopiracy

The practice of commercially exploiting naturally occurring genetic material or biochemical, usually by obtaining patents that restrict its future use, while failing to pay fair compensation to the community from which it originates.

Biocolonialism

Occurs when Western companies exploit indigenous areas and express a dominant–submissive relationship.

Environmental Racism

A form of discrimination against minority groups and people from poor countries who are subjected to a disproportionate share of environmental hazards and polluting industries.