Business accounting
Kavana C Gowda Business accounting
Test your knowledge on Business accounting!
What is Revenue?
Revenue is the income that a business earns from its normal business activities.
Revenue is the income a business uses for it's needs
Revenue is the flow of money
None of the above
What are Expenses?
Expense is the money spent by a business in generating revenue.
Expense is the money earned by a business
All of the above
None of the above
What is income?
Income is the money a person or an entity receives in exchange for their labour or investment.
Income is the money a person or an entity gives in exchange for their labour or investment.
Amount of money spent in running the business
None of the above
Which of these is synonymous to the term "Profit and loss statement"
Income statement
Money statement
Revenue statement
BMC
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