During 2010, Yoder Enterprises Generated Revenues of $60,000

question 55

Multiple Choice

During 2010, Yoder Enterprises generated revenues of $60,000. The company's expenses were as follows: cost of goods sold of $30,000, operating expenses of $12,000 and a loss on the sale of equipment of $2,000.
Yoder's income from operations is

• A) $60,000.
• B) $30,000.
• C) $18,000.
• D) $12,000.

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Definitions:

Financial Statements

Structured records that convey the financial activities and conditions of a business, entity, or individual, including the balance sheet, income statement, and cash flow statement.

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IFRS for SMEs

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