revenue may be defined as : a- increase in assets from all sources  b- the amount of capital invested by the owners of a business  c- the reduction of liabilities previously owned d- the increase in equity other than contributions from equity participants

Q: Which of the following statements is true? O A. The financial information of an enterprise is…

A: The financial information of an entity is key in evaluating how the entity is performing as a whole…

Q: In which of the following financial statements will "changes in working capital" be reported? O A.…

A: Working capital is the amount of capital available with the firm which is used for day to day…

Q: Which of the following accounting concepts considers the investment made by the owner in the…

A: Accounting Principles are the rules and guidelines to be followed by a business while preparing and…

Q: measuring the performance and financial status of an enterprise are provided below. Assets…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Can a business transaction cause one asset to increase with-out affecting any other asset,…

A:

Q: Revenues may be defined as: Select one: Increases in assets from all sources. The amount of…

A: Revenue: Revenues are defined as an increase in the fund financial sources rather than from…

Q: Profit and Loss Account shows the: Total Capital Employed Profit and Loss through sale of assets…

A: Introduction: The financial statements are a record of financial activities to assess a…

Q: Revenues are increases in equity from a company's sales of products and services to customers. 2.…

A: Net Income = Total Revenue - Total Expenses

Q: 0. The following stat To meet the objective, financial statements should provide information about…

A: The answer is POINT 'B'

Q: The equation which shows a company's resources equal claims to these resources is

A: Accounting Equation: accounting equation is the basis of accounting which is Total Asset = Total…

Q: . Revenues area. decreases in liabilities resulting from paying off loans.b. increases in retained…

A: Definition of Revenue: Earnings of a business is called revenue.

Q: e Current Liabilities Compute for the Non-current

A: The current asset as,

Q: The resources owned by a business are called:A. assets.B. liabilities.C. the accounting equation.D.…

A: To run a business many type of resources are needed. These can be in form of cash or in form of…

Q: Which of the following statements regarding equity is not true? It is defined independently of…

A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.

Q: It represents the cash or other assets withdrawn from the business by the owner for the personal…

A: Dividends are distribution of profits of a company to its shareholders. Hence, option C is wrong.

Q: The ownership claim on company’s assets A. Equity B.withdrawal C. Revenue. D. Expense

A: The Ownership claim on company's assets are called Equity. Equity Contains the Capital and retained…

Q: Which of the following statements best defines equity (capital) of a business? A Equity represents…

A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.

Q: The _____ describes a company’s financial position – by the types and amounts of assets,…

A: Every Company prepares a statement of affairs at the end of the year to know the financial position.…

Q: An increase in economic benefits or increase in assets or decrease in liability resulting in…

A: An increase in assets will increase the operational efficiency of the company. A decrease in…

Q: Which of the following statements regarding owner's capital is not valid?

A: Capital of business is the money available for our day to day financial transaction. The main four…

Q: Which of the following is a group of accounts that shows the rights of the owner or partners of the…

A: In order to fulfill the financial requirements, the business entity issue the equity shares. The…

Q: Liabilities Are things of value used by the business in its operation. O a. b. Are future economic…

A: Comment - We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: For each item below, indicate to which category of elements of financial statements it belongs. a.…

A: Particulars Category a.    Retained earnings. Equity b.    Sales. Revenue c.    Additional…

Q: The......of a business is the amount of income A-Revenue B-venture C-assest D-fund

A: A business is described as an organization or enterprising entity engaged in commercial,…

Q: Distributions of cash or other assets by a business to its stockholders are called: A) Dividends. B)…

A: Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends…

Q: Which one of the following can the accounting equation can be rewritten as? A Assets + profit –…

A: Given the following options: Assets + profit – drawings – liabilities = closing capital Assets –…

Q: Resources of a company are referred to asa. Liabilities. b. Stockholders’ equity. c. Dividends. d.…

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: tement of changes in owners equity summarizes the effects on the capital account of the various…

A: Solution: The statement of changes in owners equity represents the changes in balance of equity from…

Q: Part 2 Accounting Terminology. For each of the following statements, indicate the term described. a.…

A: Since you have posted question with multiple sub-parts, we will do the first three sub-parts for…

Q: The​ owners' claims to the assets of the business are called​ ________.     A.equity   B.expenses…

A: As per the accounting equation,  Assets = Liabilities + Equity  and such relation always holds true.

Q: Decreases equity. Represents the amount of assets owners put into a business. Equals assets minus…

A: Income statement is the financial statement that helps the users to know the profitability position…

Q: What is the owner’s right to the assets (claims to the assets) of the business called? Group of…

A: Solution: As per basic accounting equation: Assets = Liabilities + Owner's equity Therefore Lenders…

Q: select the item that best completes each of the decriptions below A(n)____ is a record of increases…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Dividends

A: Option "a" is wrong because the amount , the owner has taken out of business for personal use is…

Q: The financial statement that shows the profitability of a business entity is known as: Group of…

A: Financial statements are prepared to show the financial position, financial performance and cash…

Q: 1. Which of the following statements is correct? A. Assets on the balance sheet include retained…

A: Balance sheet equation is Total assets = Total liabilities + owners equity

Q: hich financial statement is associated with each of the descriptions below? a. Operating…

A: The financial statements of the business include the income statement, cash flow statement,…

Q: What an organization generates from activities, other than its primary business activity, will be…

A: Income statement is a financial statement which shows profit earned by a entity. Income statement…

Q: If a business earns a Net Income it means: O Capital > Revenue O Revenue > Expenses Drawings >…

A: Net income As per formula Net income = Revenue-Expenses If expenses are less than revenue than net…

Q: What information is made available about the business in the following financial statements: a.…

A: A compilation of summaries of a company's monetary results, financial position, and cash flows is…

Q: _______ 1. Financial assets at amortized cost shall be measured at fair value through profit or…

A: ‘’Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Briefly describe a business transaction that would cause Assets to Increase and Liabilities to…

A: We can take a case that if we purchase any asset say Furniture on credit of 10000, then in that case…

Q: ains are: Select one: a. Inflows from selling a product or service to a customer. b. Increases in…

A: Gains means some profit earned from some extra ordinary business and not from ordinary business.

Q: As per the accounting equation, equity can be represented as __________________. Excess of assets…

A: Accounting is the detailed process of book keeping. Under the first step of accounting, all…

Q: The increases in stockholders' equity attributable to selling services or products to customers are…

A: Stockholder’s equity is the money which is invested by the shareholders’ who are the owners of the…

Q: The gross increase in stockholder’s equity attributable to business activities are called: a)…

A: Stock holders equity = equity share capital + Reserves and surplus