14. The rule that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of asset associated with revenue to be in a form other than cash, and (3) measures the amount of revenue as the cas plus the cash equivalent value of any noncash assets received from customers in exchange for goods or servi is called the: A. Going-concern assumption. B. Cost principle. C. Revenue recognition principle. D. Objectivity principle. E. Business entity assumption. 15.The difference between a company's assets and its liabilities, or net assets is: A. Net income. B. Expense. C. Equity D. Revenue. E. Net loss. 16. Creditors' claims on the assets of a company are called: A. Net losses. B. Expenses. C. Revenues. D. Equity 17. Decreases in equity that represent costs of assets or services used to earn revenues are called: B. Equit E. Liabilities. A. Liabilities C. Withdrawals D. Expenses. E. Owner's Investment. 18. Revenues are: A. The same as net income. B. The excess of expenses over assets. C. Resources owned or controlled by a company D. The increase in equity from a company's earning activities. E. The costs of assets or services used 19. The financial statement that reports whether the business earned a profit and also lists the revenues an