A Company Billed a Client for Services Rendered in January

question 50

Multiple Choice

A company billed a client for services rendered in January. The payment was received, partially in January and the balance in February. When should the entry be made to record the service revenue?

• A) January
• B) February
• C) Split between January and February.
• D) An entry to record revenue should never be made.

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Definitions:

Adult Cell Types

Categories of cells that have differentiated to perform specific functions in the body of an adult organism.

Hemopoietic Tissue

Blood-forming tissue.

Red Bone Marrow

A tissue found in the interior of bones, rich in blood vessels and stem cells, responsible for the production of blood cells.

Elastic Cartilage

A type of flexible cartilage found in areas like the ears and epiglottis, providing strength and elasticity.