Question

Which of the following best describes the meaning of sales?

Answer 1

Answer:Revenue is best described by the sales of goods and services to a customer.

Explanation: Revenue is recognized when it is earned in the accrual method of accounting and this occurs independently of when it is paid. Revenues are offset by expenses and the surplus of revenues at the end of a period make up the companies net income or profits.

Answer 2

Answer:

Explanation:

Revenue is best described by the sales of goods and services to a customer. Revenue is recognized when it is earned in the accrual method of accounting and this occurs independently of when it is paid. Revenues are offset by expenses and the surplus of revenues at the end of a period make up the companies net income or profits.