Question:Revenues are a measure of the inflows of assets (or reductions in liabilities) from selling goods and providing services to customers. Which of the following is NOT a revenue transaction?
A Sale of merchandise for cash to a customer
B Sale of merchandise on account to a customer
C Delivery of weekly magazines to a subscriber who previously paid for a one-year subscription
D Borrowing money from a local bank to be used in the business
+ AnswerA
+ Explanation
+ Report