Fang's Tune-Up Shop Uses the Accrual Basis of Accounting

question 36

Multiple Choice

Fang's Tune-Up Shop uses the accrual basis of accounting.Fang services a car on May 31.The customer picks up the vehicle on June 1 and mails payment to Fang on June 5.Fang receives the cheque in the mail on June 6.When would Fang recognize the revenue as being earned?

• A)June 6
• B)June 5
• C)June 1
• D)May 31

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Definitions:

Operatic Solos

Vocal performances by a single singer within an opera, often showcasing the performer's vocal ability and character interpretation.

Neurotransmitters

Chemical messengers that transmit signals across a chemical synapse, from one neuron to another target neuron.

Reticular Formations

A complex network of nerve pathways in the brainstem involved in consciousness, sleep-wake cycles, and filtering incoming stimuli to discern irrelevant background information.

Limbic Systems

A complex set of brain structures located on both sides of the thalamus, involved in many of our emotions and motivations, particularly those related to survival such as fear, anger, and emotions related to reproduction.