Which of the following statements regarding revenue is correct?
A) Revenue arises when payment is received for goods or services provided.
B) Cash at bank increases when revenue is earned.
C) Revenue is deducted from expenses to determine profit for the period.
D) Revenue arises from the sale of goods, provision of services and investing activities of a business.
E) Revenue has no effect on owner's equity.
Correct Answer:
Verified
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