Which of the following statements best describes the term "revenues"?
A)Revenues represent an outflow of assets resulting from the sale of goods or services.
B)Revenues represent assets received from the sale of products or services.
C)Revenues represent assets used or consumed in the sale of products or services.
D)Revenues represent the dollar amount of bonds sold to the public.

Question

Quizplus · Accepted Answer

Revenues represent the inflow of assets resulting from the sale of goods or services. Option A is the definition of expenses, option C is the definition of cost of goods sold, and option D is the definition of proceeds from bonds sold.

Which of the Following Statements Best Describes the Term "Revenues