Question

When the firm earn profit from transactions which is incidental to business. * 1 point a) Revenue b) Income c) Gain d) Loss​

Answer 1

Answer:

b)income

Explanation:

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Answer 2

The gain is incidental to the business.

• A possible gain is a significant rise in a valuable asset's or a fundamental property's worth.
• When something's current price typically exceeds its initial purchase price, a gain results.
• It is a considerable profit that results from business-related activities or economic transactions.
• They frequently come about as a result of irregular transactions or one-time transactions, such as earnings from the sale of investments, asset value rises, or profits from the anticipated sale of fixed assets.
• It can also apply to property or improvements to property that the performing party has obtained or derived by bearing that burden to that extent.
• It is applicable unless such a valuable property or marked improvements are included in the performance received or used up to provide the remarkable performance received.

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