Amounts Earned from Delivering Goods or Services to Customers Are

question 112

Multiple Choice

Amounts earned from delivering goods or services to customers are called ________.

• A)notes receivable
• B)unearned revenues
• C)equity
• D)revenues

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Definitions:

Capital Balance

The total amount of capital contributed by investors or owners plus retained earnings or minus losses.

Income Distribution

The way total income is shared among individuals or groups within an economy or organization.

Net Income

A company's total earnings or profit; calculated as revenues minus expenses, taxes, and the cost of goods sold.

Personal Use

Utilization of property or goods in a manner primarily for the individual's own consumption, enjoyment, or benefit, rather than for business or commercial purposes.