...payable considered in the? revenue - expense categories?)
I just took a quiz online and it said that I got that answer wrong, however, it isn't able to tell you the correct answer. I was pretty sure that I totalled all of the revenue and the expenses and then subtracted them from each other. There was expenses of equipment and rent on account and also payments from credit cards...Do they still both count under the total of revenue and expense, even if they haven't occured yet?
I just took a quiz online and it said that I got that answer wrong, however, it isn't able to tell you the correct answer. I was pretty sure that I totalled all of the revenue and the expenses and then subtracted them from each other. There was expenses of equipment and rent on account and also payments from credit cards...Do they still both count under the total of revenue and expense, even if they haven't occured yet?