A Business Has Made Money IF The

question 11

Multiple Choice

A business has made money IF the:

• A) expenses are greater than the income.
• B) expenses are equal to the income.
• C) budget is balanced.
• D) income is greater than the expenses.
• E) All of the above

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Definitions:

Business Structure

The legal and organizational framework chosen by a company that defines its operations, liabilities, responsibilities, and regulatory obligations.

Sole Proprietorship

An unincorporated firm owned and operated by one person.

Money Income

It refers to the total amount of monetary earnings received by an individual or household, including wages, salaries, and other forms of financial income.

Revenues

The sum of money a business acquires from selling goods or offering services over a certain time frame.