Cost of the asset$100,000
Life of the asset 5 years
Depreciation rate20%
Capital cost allowance rate 50%
Residual value of the asset nil
Income tax rate 50%
-What term refers to the amount a business earns from the sale of its products and services?
A) revenue
B) retained earnings
C) accounts receivable
D) other income

Question

Cost of the asset$100,000 
Life of the asset 5 years 
Depreciation rate20% 
Capital cost allowance rate 50% 
Residual value of the asset nil 
Income tax rate 50%
-What term refers to the amount a business earns from the sale of its products and services?
A) revenue
B) retained earnings
C) accounts receivable
D) other income

Quizplus · Accepted Answer

Revenue refers to the total amount of money a business earns from the sale of its products or services, before any expenses are subtracted.

Cost of the Asset$100,000