Total Revenue Is the Amount

question 6

Multiple Choice

Total revenue is the amount:

• A) a firm receives from the sale of goods and services.
• B) a firm keeps after all expenses are paid.
• C) of sales that get reinvested in the firm.
• D) a firm receives from dividends.

---

Definitions:

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income.

Post-Closing Trial Balance

A financial report created after closing entries are made, showing all the balances of ledger accounts at the end of an accounting period.

Accumulated Depreciation

The cumulative sum of depreciation costs allocated to a fixed asset from the time of its purchase.

Supplies

Items used in the operations of a business that are consumed or used up in the short term.