The Inflow of Assets Resulting from the Sale of Products

question 43

Multiple Choice

The inflow of assets resulting from the sale of products and services is called a(n)

• A)asset.
• B)liability.
• C)revenue.
• D)expense.

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Definitions:

World's Income

The total earnings from production and services by individuals and corporations around the globe, often considered in terms of Gross World Product.

Low-Income Developing

A term used to describe countries with lower levels of income and economic development in comparison to global averages.

Annual Per Capita Income

The average income earned per person in a given area in a specified year, calculated by dividing the area's total income by its population.

Democratic Republic

A form of government in which representatives elected by the people make and enforce laws and policies, but the head of state is usually a president.