<span>As part of his overall stock portfolio, Jason bought a few shares of Facebook. in this context, he would best be described as shareholder of facebook.</span>
Following a budget will help you keep you out of debt if you are currently in debt.
Because they are always converted to an income summary throughout the closing process, revenue and expense accounts are known as nominal accounts.
so the statement is false
Revenue Definition:
Revenue in financial accounting refers to an inflow of funds, typically from sales or services provided by commercial activity. It is also known as sales or business turnover. In other terms, revenue refers to the amount of money that a company or organization receives. For instance, certain businesses may receive income from royalties, interest, or copyright fees. While for some businesses, money may come from the services they provide to clients. Donations from groups, corporations, and people are referred to as revenue for non-profit organizations.
Operating Revenue Examples:
- Sales.
- Fees or Commission Earned.
- Service Revenues.
Expenses Definition:
A money outflow is known as an expense or expenditure in financial accounting. As an illustration, a tenant's expenses can include rent. Parents' expenses could include the cost of their children's tuition. Expenses for a business include things like electricity bills, bank fees, sales expenses, phone bills, repairs, and services.
List of expenses in accounts frequently observed when preparing financial statements:
- Cost of goods sold.
- Legal fees.
- Depreciation.
Learn more about Revenue and expense accounts here
brainly.com/question/16749768
#SPJ4
Answer:
B. $23,000
Explanation:
Recall that, assets are resources that an individual or an organization has which have future economic value that can be measured,
Thus,
Total current assets = Cash + account receivable + supplies + prepaid rents + inventories.
Therefore
Total current assets = 7000 + 6000 + 1000 + 4000 + 5000
= $23,000
Note: Land is not included in CURRENT asset. Land are longterm assets.
I think it is the exchange of goods or services, which can be with or without money.
