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

question 1

Multiple Choice

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

• A)$12,000
• B)$18,000
• C)$27,000
• D)$30,000

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Definitions:

Constitutive Genes

Genes that are constantly active and expressed at a fixed rate in an organism, providing the basic functions necessary for its survival.

Always Expressed

refers to genes or traits that are continually active or manifest in an organism, regardless of environmental conditions.

Cell

The smallest structural and functional unit of an organism, typically microscopic and consisting of cytoplasm and a nucleus enclosed in a membrane.

Activator Protein

A positive regulatory protein that stimulates transcription when bound to DNA. Compare with repressor protein.