Which of the Following Is a FALSE Statement

question 149

Multiple Choice

Which of the following is a FALSE statement?

• A)Revenues provide inward flows of assets.
• B)Revenue is categorized as an asset.
• C)Revenue is categorized as part of Retained Earnings.
• D)Revenues are generated from the sale of goods and services.

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Definitions:

Similar Motivation

pertains to having comparable drives or reasons behind actions or decisions.

Rule Of Reason

A doctrine used in U.S. antitrust law stating that not all restraints of trade are illegal, only those that are unreasonable, considering the facts surrounding the case.

Vertical Price-Fixing

An illegal practice where parties at different levels of the same supply chain (like manufacturers and retailers) agree to control the prices at which a product must be sold.

Per Se

A Latin phrase meaning "by itself" or "in itself," used to indicate something that is inherently or intrinsically the case.