Which of the Following Properly Describes a Deferral

question 68

Multiple Choice

Which of the following properly describes a deferral?

• A) Cash is received after revenue is earned.
• B) Cash is received before revenue is earned.
• C) Cash is paid after expense is incurred.
• D) Cash is paid in the same time period that an expense is incurred.

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Definitions:

Stratification

The arrangement or classification of something, often society, into different groups or layers based on characteristics like wealth, race, or social status.

Capitalist Societies

Societies characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production, and the distribution of goods determined mainly by competition in a free market.

Class Status

An individual's or group’s position within a hierarchical social structure influenced by factors like wealth, occupation, education, and lineage.

Status Inconsistency

A situation in which an individual holds differing and contradictory levels of status in terms of wealth, power, prestige, or other elements of socioeconomic status.