If Revenue Is Not Recognized at the Time of Sale

question 63

Multiple Choice

If revenue is not recognized at the time of sale, which of the following accounts may be affected at the time of sale? $\begin{array}{lll}&\text { Accounts } & \text { Deferred } \\&\text { Receivable } & \text { GrossProfit }\\ \text {I.}&\text { No } & \text { No } \\\text {II.}&\text { Yes } & \text { Yes } \\\text {III.}&\text { No } & \text { Yes } \\\text {IV.}&\text { Yes } & \text { No }\end{array}$

• A)I
• B)II
• C)III
• D)IV