Cosmos Computer Consulting (CCC) Is Preparing Their Year-End Financial Statements

question 68

Multiple Choice

Cosmos Computer Consulting (CCC) is preparing their year-end financial statements.They completed two projects in the last month: one worth $12,000 that has been billed to the customer but has not yet been paid, and one worth $18,000 that they have not yet been invoiced to the customer.In the case of the second contract CCC had received a $3,000 deposit at the beginning of the contract.With respect to these two contracts, what amount would be recorded as unearned revenue for Cosmos at year-end?

• A)$3,000
• B)$15,000
• C)$18,000
• D)There is no unearned revenue at year-end.

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Definitions:

Signal Pressure Values

The measurement of pressure within a system, often transmitted as data for monitoring or control purposes.

Sensor

Energy conversion device used to signal a condition or state. Sensors are used to signal speed, pressure, temperature, etc.

ECU Processing

The handling and execution of tasks by the Engine Control Unit in a vehicle, encompassing functions like fuel injection and ignition timing.

Actuators

Devices that convert electrical, hydraulic, or pneumatic energy into mechanical motion to activate a mechanism.