Which of the Following Concepts Refers to Earnings from Work

question 44

Multiple Choice

Which of the following concepts refers to earnings from work or any investments?

• A)income
• B)personal property
• C)wealth
• D)power

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Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services delivered on credit.

General Journal

A primary accounting record where financial transactions are initially recorded in chronological order.

Legal Fees Revenue

Income derived from fees charged for legal services provided.

General Journal

The general journal is a primary accounting record used to enter all transactions through debits and credits, serving as the initial point of data entry.