The Primary Difference Between Revenues and Gains Is

question 41

Multiple Choice

The primary difference between revenues and gains is

• A)gains are increases in net assets from peripheral activities while revenues are increases from ongoing activities.
• B)revenues increase operating income and gains have no impact on net income.
• C)revenues cause increases in net assets as a result of peripheral activities and gains cause increases through ongoing activities.
• D)gains result in an increase in operating income whereas revenues do not impact operating income.

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Definitions:

Intuition

The ability to understand or know something immediately, without the need for conscious reasoning, often based on experience.

Gut Feelings

Intuitive judgments or responses that are not based on rational analysis but on instinct.

Visualize

The practice of forming a mental image of something, used as a technique to enhance comprehension, creativity, or problem-solving.

Imagery

The use of vivid or figurative language to represent objects, actions, or ideas in such a way that it appeals to our physical senses.