Revenues represent the increase in equity from a company's sales of products or services. It is not the same as net income. Option A and E are incorrect as they refer to expenses and costs, respectively, which are not the same as revenues. Option B is incorrect as it defines resources owned by a company, which is not equivalent to revenues.

Solved

Revenues Are

Question 132

Multiple Choice

Revenues are:

A) The excess of expenses over assets.
B) Resources owned or controlled by a company.
C) The same as net income.
D) The increase in equity from a company's sales of products and services.
E) The costs of assets or services used.

Correct Answer: