What is the major difference between the revenue and the expenditure cycle?Select one:a.the revenue cycle includes the activity of obtaining funds from investors.b.the expenditure cycle includes paying employees.c.in the revenue cycle, cash is received; in the expenditure cycle, cash is paid out.d.the revenue cycle includes marketing activities; the expenditure cycle does not.

revenue arises when a business receives cash in one period, but does not provide all of the related goods or services until a later period. (Enter only one word.)

Which of the following business functions is associated with the revenue/receipt cycle?Select one:a.capital funds are received from investors and creditors.b.Resources are distributed to outsiders in exchange for promises of future payments.c.obligations are paid to vendors and employees.d.resources are held, used or transformed.

37.This represents expenditure incurred to earn revenue of the current period. Pick up from the following  A. Revenue  B. Revenue Expenditure  C. Revenue Receipts  D. Revenue payments

1-3 Economic profit is the difference between​a.total revenue and the opportunity cost of all of the resources used in production.​b.total revenue and the implicit costs of using owner-supplied resources.​c.accounting profit and the opportunity cost of the market-supplied resources used by the firm.​d.accounting profit and explicit costs.​​

Accounting profits and cash flows are:Group of answer choicesgenerally the same since accounting profits reflect when the cash flows are received.generally not the same since accrual accounting allows for revenue recognition separate from the receipt of cash flows.generally not the same because cash inflows occur before revenue recognition.generally the same since they reflect current laws and accounting standards.