The Account in Which the Revenue Earned from the Sale

question 68

Multiple Choice

The account in which the revenue earned from the sale of merchandise is entered is:

• A) Retained Earnings.
• B) Sales.
• C) Cash.
• D) Inventory.
• E) Shareholders' Equity.

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Definitions:

Equity Securities

Financial instruments representing ownership in a company, such as stocks, which give shareholders voting rights and potential dividends.

Ownership

The state or fact of legal possession and control over property, which can include goods, land, or intellectual property.

Third Party

An entity or individual that is not directly involved in a transaction or agreement but may be affected by it or have an interest in it.

Corporate Interests

Refers to the goals, objectives, or priorities of a corporation, often aimed at maximizing profitability and shareholder value.