Which of the Following Properly Describes a Deferral

question 101

Multiple Choice

Which of the following properly describes a deferral?

• A) Cash is received after revenue is recognized.
• B) Cash is received before revenue is recognized.
• 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:

Customer's Expectations

The beliefs or standards that customers have regarding the quality, performance, and value of a product or service.

Repairing Damage

The process of fixing or restoring something that has been broken, harmed, or impaired.

Modifying

The act of making changes or alterations to something, often to improve it or to adjust it to different conditions.

Refuse a Claim

The act of denying or rejecting a request for compensation or redress, typically in a formal or official capacity.