If You Donate a Desk to Your Name's Beach Barkers

question 58

Multiple Choice

If you donate a desk to Your Name's Beach Barkers, it is recorded in Your Name, Investment account and in _______.

• A)Furniture: Original Cost
• B)Checking
• C)Store Supplies
• D)Owner's Donations

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Definitions:

Net Income

Final earnings of a corporation post deductions of expenses and taxes from its aggregate revenue.

Revenues

Income generated from normal business operations, including sales of goods and services, fees, commissions, and other sources.

Expenses

Costs incurred in the process of earning revenue, encompassing a broad range of spending from operational to administrative.

Advertising Expense

Advertising Expense represents the costs incurred by a business to promote its products or services through various advertising mediums.