Final answer:
The correct answer is option d. all of these.
Step-by-step explanation:
When goods or services are exchanged for cash or claims to cash (receivables), revenues are realized and recognized. Revenue is essentially the income earned by a company when it sells its goods or provides services. The term earned is also relevant because it implies that the company has performed the service or delivered the goods, entitling it to the payment. Hence, the answer includes all the given options.
An example is a company selling a piece of inventory good. This good has been produced but not yet sold. Once it is sold for cash or a claim to receive cash in the future, revenue for the company is recognized. The national income reflects such transactions on a larger scale, including all income earned: wages, profits, rent, and profit income.