Revenues Are Increases in a Firm's Assets Resulting from the Sale

question 45

True/False

Revenues are increases in a firm's assets resulting from the sale of goods, the provision of services, or other activities intended to earn income.

---

Definitions:

Raw Materials

Basic materials and substances used in the initial stages of production and manufacturing processes.

Multinational Corporation

A corporate organization that owns or controls production of goods or services in one or more countries other than its home country.

Foreign Exchange

The trading of currencies from different countries against each other.

Mutual Benefits

A situation or agreement in which all parties involved gain advantages or profits.