Revenues are Select one: A. profits B. business events C. net assets D. the value of assets exchanged for goods or services provided to the customer E. the amount a business earns after subtracting all expenses from sales Question 20 Not yet answered Marked out of 2.00 Not flaggedFlag question Question text If a parcel of land is offered for sale at $45,000, is assessed for tax purposes at $20,000, is considered by its purchasers to be worth $36,000, and is purchased for $34,000, the land should be recorded in the purchaser's books at Select one: A. $45,000 B. $36,000 C. $54,000 D. $20,000 E. $34,000 Question 21 Not yet answered Marked out of 2.00 Not flaggedFlag question Question text If assets are $175,000 and equity is $47,000, then liabilities equal Select one: A. $204,000 B. $222,000 C. $128,000 D. $175,000 E. $47,000