What is the difference between a revenue and a gain? O a. Revenue results from internal transactions, whereas gains result from external transactions. O b. Revenues result from transactions related to central operations, whereas gains result from transactions related to peripheral operations. Oc. Revenue results from transactions related to peripheral operations, whereas gains result from transactions related to central operations. Od. Revenue results from external transactions, whereas gains result from internal transactions.
What is the difference between a revenue and a gain? O a. Revenue results from internal transactions, whereas gains result from external transactions. O b. Revenues result from transactions related to central operations, whereas gains result from transactions related to peripheral operations. Oc. Revenue results from transactions related to peripheral operations, whereas gains result from transactions related to central operations. Od. Revenue results from external transactions, whereas gains result from internal transactions.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 1MC: Which of the following is not a criterion to recognize revenue under GAAP? A. The earnings process...
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