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Answer to Question #76706 in Accounting for rich

Question #76706
Describe the features of cash, revenues and expenditures. Give examples of each category with a linked budget objective.
Expert's answer
Cash is a current asset account which includes currency, coins, checking accounts, and undeposited checks received from customers.
Revenues are the amounts that a business earns from selling goods or providing services to its customers.
An expenditure is a payment in cash or barter credits, or the incurrence of a liability by an entity, in exchange for goods or services.

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