Which One of the Following Is Not an Application of Revenue

question 28

Multiple Choice

Which one of the following is not an application of revenue recognition?

• A) Recording revenue as an adjusting entry on the last day of the accounting period.
• B) Accepting cash from an established customer for services to be performed over the next three months.
• C) Billing customers on June 30 for services completed during June.
• D) Receiving cash for services performed.

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Definitions:

Cognitive Disabilities

Impairments in intellectual functioning and adaptive behavior, affecting learning, communication, and independent living.

Heavy Alcohol Consumption

Excessive drinking over time, leading to health and behavioral issues.

Obesity

A medical condition characterized by excessive body fat that presents a risk to health, often leading to various chronic diseases.

Premature Birth

The birth of a baby before the full term of 37 weeks of pregnancy, potentially leading to health challenges.