Which of the Following Words Does the Text Use to Describe

question 21

Multiple Choice

Which of the following words does the text use to describe senior centres?

• A) an Elderhostel for older people
• B) a recreation system for older people
• C) a support network for older people
• D) a political party for older people

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Definitions:

Owner's Drawings

Money removed by a sole proprietorship or partnership owner from the company for their private use.

Revenue

Revenue is the income generated from normal business operations and includes discounts and deductions for returned merchandise.

Expenses

The costs incurred by a business in the process of earning revenue, such as costs of goods sold, operating expenses, and taxes.

Debits

Entries that are recorded on the left side of accounting ledgers and journals, representing increases in assets or expenses or decreases in liabilities, equity, and income.