A Company Billed a Client for Services Rendered in January

question 80

Multiple Choice

A company billed a client for services rendered in January.The payment was received partially in January,and the balance in February.When should the entry be made to record the service revenue?

• A)January.
• B)February.
• C)Split between January and February.
• D)At the end of the year with an adjusting entry.

---

Definitions:

Computer-Based Simulation

Use of computer algorithms and models to replicate or mimic real-world processes, scenarios, or systems for analysis, prediction, or educational purposes.

Social Traps

Situations where individuals or groups pursue immediate rewards that later prove to have negative or even disastrous consequences.

Overconfidence

The psychological state of being too confident in one’s own abilities, often leading to taking greater risks.

Recycling

The process of converting waste materials into new materials and objects, aiming to reduce consumption of fresh raw materials, energy usage, and environmental pollution.