Examlex
Ralph has budgeted $175 for entertainment.He uses this money to go out on dates for $35 or to go out with his friends for $15.Which budget line equation represents the situation?
Expenses
The outflows or consumption of assets or incurring/liabilities (creating a liability) from a company's operations aimed at generating revenue.
Revenue
The total income generated from normal business operations, including sales of goods and services before any expenses are subtracted.
Withdrawals
The removal of funds from a bank account or the taking out of cash or assets from a business by its owner for personal use.
Assets
Economic resources owned or controlled by a business, expected to bring future benefits.
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