Which of the Following Is TRUE Regarding Revenue and Profit

question 61

Multiple Choice

Which of the following is TRUE regarding revenue and profit?

• A)The terms revenue and profit mean the same thing.
• B)Both revenue and profit are found on the Income Statement.
• C)Profit equals liabilities plus Stockholders' Equity.
• D)Revenue is found on the Balance Sheet and profit is found on the Income Statement.

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Definitions:

Tangible Products

Goods that have a physical form and can be touched, such as electronics, furniture, and vehicles.

Intangible Products

Goods that cannot be touched, measured, or physically counted, typically services or digital items.