Under the Cash Basis of Accounting, an Amount Received from a Customer

question 93

Multiple Choice

Under the cash basis of accounting, an amount received from a customer in advance of providing the services would be reported as a(n) :

• A)revenue.
• B)liability.
• C)expense.
• D)prepaid expense.

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Definitions:

Divorce rates

The statistical measure of the number of divorces that occur in a particular population during a specific period.

Marital dissatisfaction

Feelings of unhappiness and discontent with one's marriage, which can stem from various factors including lack of communication, emotional disconnection, or unresolved conflicts.

Mother-stepfather family

A family structure consisting of a biological mother, her children, and a stepfather, formed after the mother enters a new marital or cohabiting relationship.

Complex stepfamily

A family structure that includes children from previous relationships of both partners, as well as any children they may have together.