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

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Definitions:

Supplies

Materials and items necessary for carrying out a process or activity, especially in professions like healthcare or education.

PPE

Personal Protective Equipment; items worn to minimize exposure to hazards that can cause workplace injuries and illnesses.

Mask

A covering for the face or part of it, typically used for protection, disguise, performance, or entertainment.

Face Shield

A protective device worn on the head with a transparent visor covering the face to shield from fluids, debris, or infectious materials.