Which of the Following Is Not an Example of the Application

question 15

Multiple Choice

Which of the following is not an example of the application of the revenue principle?

• A) Recording the sale of merchandise on credit in sales revenue.
• B) Recording accrued interest revenue on a loan made to another party.
• C) Recording rent received in advance as rent revenue.
• D) Recording the sale of merchandise for cash in sales revenue.

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Definitions:

Standardized Part

Components or items that are manufactured in large quantities to uniform specifications, ensuring compatibility and interchangeability.

Gantt Chart

A visual project management tool that displays tasks or events along a time axis, allowing for the planning and tracking of project progress.

PERT Chart

A project management tool used to schedule, organize, and coordinate tasks within a project, standing for Program Evaluation and Review Technique.

Manufacturing

The process of converting raw materials or components into finished goods through the use of labor, machinery, and processing techniques.