Operating Activities Are Transactions and Events Associated with Selling a Product

question 135

Multiple Choice

Operating activities are transactions and events associated with selling a product or providing a service related to the:

• A)revenues and expenses reported on the Income Statement.
• B)assets and liabilities reported on the Balance Sheet.
• C)net income reported on the Statement of Retained Earnings.
• D)Retained Earnings reported on the Balance Sheet.

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Definitions:

IBM

International Business Machines Corporation, a multinational technology company known for its computer hardware, software, and IT services.

Microsoft

A global technology company known for its software products, including the Windows operating system and Office suite.

Close Substitutes

Close substitutes are products or services that can easily replace each other in the eyes of consumers due to similarities in function or characteristics.

Anti-Trust Lawsuits

Anti-trust lawsuits are legal actions undertaken to address and prevent business practices that reduce or restrict competition in the market.