It would be B.) E-commerce this term is used to describe buying and selling products online.
D) Account receivable and note receivable are showing in Expense
Net income increases when "revenue" increases.
<h3>What is revenue?</h3>
The overall revenue generated by a business over a predetermined period of time. This can be done by-
- The entire income generated by a specific source, such as a property with high predicted yearly returns.
- The total income a financial investment generates.
- The amount of revenue that a political entity, such as a country or state, collects and deposits into the treasury for use by the general public.
- The simplest way to determine revenue is to multiply the total number of units sold by the selling price.
- A company's earnings, or bottom line, will be lower than its sales because revenues do not take expenditures or expenses into account.
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Answer:
The December 31 balance sheet should show the following liabilities:
Current liabilities:
Current portion of notes payable $250,000
Long term liabilities:
Notes payable $750,000
Current liabilities include all the liabilities that are due within one year of the presentation of the balance sheet. While long term liabilities include all the liabilities that are due in more than one year.
Even if the total liability is due in more than one year, but a tranche or installment is due within one year, this must be included as current portion of long term liability under current liabilities.
