The outflow of assets resulting from the sale of products and services is called a(n)
A)asset.
B)liability.
C)revenue.
D)expense.

Name: The outflow of assets resulting from the sale of products and services is called a(n) A)asset. B)liability. C)revenue. D)expense.
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Question

Quizplus · Accepted Answer

An expense is the outflow of assets or incurrence of liabilities from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major or central operations.

The Outflow of Assets Resulting from the Sale of Products