Question

Inflows or other enhancements of assets of an entity or settlements of its liabilities from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing operations. ___________

Answer 1

Answer:

REVENUES

Explanation:

Revenue, often referred to as sales, are the inflows or other enhancements of assets of an entity or settlements of its liabilities (Income) received from the entity's ongoing operations. Includes discounts and deductions for returned merchandise. It is the first income on a company's Income Statement from which all charges, costs, and expenses are subtracted to arrive at net income.