Companies Often Focus More on Increasing Revenue Than on Controlling

question 179

True/False

Companies often focus more on increasing revenue than on controlling costs. If the company can increase its revenue, it can remain in business for a long time.

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Definitions:

Note Payable

A written promise to pay a specific amount of money, usually with interest, by a certain date.

Money Borrowed

Funds that have been provided by one party to another under the condition that it will be returned, often with interest.

Monetary Unit Assumption

An accounting principle that assumes transactions and events can be expressed in monetary units for recording and reporting.

Quantified In Terms

To describe or express something as a quantity or in numerical terms.