Which of the Following Is Not True About the Income

question 97

Multiple Choice

Which of the following is not true about the Income Statement?

• A)Amounts received from customers for services performed in the current month would be revenues on the income statement.
• B)Costs incurred in the current month but not paid as of the end of the month would be expenses on the income statement for the current month.
• C)Amounts received from customers in payment of their accounts arising from service in the prior period would be revenues in the income statement for the current period.
• D)Amounts received from customer as deposits for services to be rendered next month will not be recorded as revenues on the income statement for the current month.

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Definitions:

False Beliefs

Concepts or ideas that are accepted as true despite lacking evidence or logical backing.

Cognitive Therapist

A type of psychotherapist who helps patients identify and correct distorted thinking patterns that can lead to feelings and behaviors that are problematic.

Depressed Client

A person receiving therapy or counseling services who is experiencing symptoms of depression, such as persistent sadness or loss of interest in activities.

Negative Interpretations

A cognitive distortion where an individual consistently perceives situations in a more negative light than is warranted.