Which of the Following Would not Be an Application of the Revenue

question 256

Multiple Choice

Which of the following would not be an application of the revenue recognition or expense recognition principle?

• A)Recording accrued salaries and wages expense.
• B)Recording accrued interest revenue.
• C)Recording the collection of an advance customer payment as revenue.
• D)Recording prepaid expense adjustments.

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Definitions:

Data Warehouse

A central repository for storing, managing, and analyzing large volumes of data from various sources.

External Data Sources

Information collected from outside an organization for analysis, including market trends, competitor data, and economic indicators.

Internal Data Sources

Information collected from within an organization, such as sales records, customer feedback, and inventory levels, used for decision-making and strategic planning.

Independent

Refers to entities or individuals that operate autonomously, without external control or support.