Cindy provides piano lessons to students in her home four days a week.The money she earns from providing these services would be called ____ on an income statement.
A) expenses
B) cash
C) revenues
D) retained earnings
E) equity

Question

Quizplus · Accepted Answer

The money earned from providing piano lessons would be considered revenue on an income statement, as it represents the income generated from Cindy's services. Expenses would be the costs associated with providing the lessons (such as sheet music or rent for the space she uses to teach), cash refers to the actual funds received or spent, retained earnings are the profits the business has kept over time, and equity represents the value of Cindy's stake in the business.

Cindy Provides Piano Lessons to Students in Her Home Four