Two Terms Used in Financial Accounting Are Gain and Revenue

question 23

Multiple Choice

Two terms used in financial accounting are gain and revenue. Which of the following statements is correct?

• A) Revenues relate to the main business of the company, while gains are from events that are not a main regular part of the business.
• B) The two terms mean the same thing.
• C) A company's revenues are always much larger than the gains it has.
• D) A company that reports revenues will never report gains.

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Definitions:

Organizational Culture

A system of shared beliefs, values, customs, behaviors, and artifacts that the members of an organization use to cope with their world and with one another.

Employees Dress

Refers to the attire or clothing guidelines and standards set by an organization for its workers.

Office Equipment

refers to the various tools, machines, and devices used within an office setting to facilitate work processes, including computers, printers, copiers, and telephones.

Expert Power

Authority or influence wielded over others based on perceived knowledge, skills, or expertise in a specific area.