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

Question

Quizplus · Accepted Answer

Revenues are the amounts a company earns from its operating activities, and they increase equity through net income. Revenues are not the same as net income (A), nor are they the excess of expenses over assets (B). Revenues are resources owned or controlled by a company, but this is not the primary definition (C). Finally, revenues are not the costs of assets or services used (E).

Revenues Are