The U.S. Rule

question 84

Multiple Choice

The U.S. Rule:

• A)Is used only by banks
• B)Is never used by banks
• C)Allows borrowers to receive interest credit
• D)Is hardly used today
• E)None of these

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Definitions:

Revenue

The total income generated by a business from its normal business operations, including sales of goods and services.

Planning Budget

A budget formulated at the beginning of the budgeting period that is based on planned operations and outputs.

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Planning Budget

A budget created at the beginning of a period, based on estimates of revenues and expenses.