The value of assets exchanged for goods or services provided to customers as part of the main operations of a business are called:
A)Equity.
B)Revenues.
C)Assets.
D)Liabilities.
E)Expenses.

Question

Quizplus · Accepted Answer

This is because revenues are the inflows of economic resources (assets) resulting from the sale of goods or services provided to customers as part of the main operations of a business. Therefore, the value of assets exchanged for goods or services provided to customers falls under the category of revenues.

The Value of Assets Exchanged for Goods or Services Provided