Examlex
Which of the following statements is FALSE?
Merchandise Inventory
Goods a company intends to sell to customers that are stored as inventory.
Purchases
Represents the total amount of goods bought by a business for resale or for use in production.
Rental Income
This is income received from renting out property or equipment. It is often considered passive income and must be reported for tax purposes.
Revenue
The total income generated from normal business operations and before any expenses are deducted.
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