Examlex
A person consumes 5 or more drinks on a single occasion.What is being described?
Revenue
Revenue is the income generated from normal business operations and includes discounts and deductions for returned merchandise.
Expenses
The costs incurred by a business in the process of earning revenue, such as costs of goods sold, operating expenses, and taxes.
Debits
Entries that are recorded on the left side of accounting ledgers and journals, representing increases in assets or expenses or decreases in liabilities, equity, and income.
Assets
Resources owned by a company or individual that have economic value and can provide future benefits.
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