Walton Company Collected $14,400 in May of 2021 for 4

question 137

Multiple Choice

Walton Company collected $14,400 in May of 2021 for 4 months of service which would take place from October of 2021 through January of 2022.The revenue reported from this transaction during 2021 would be:

• A)$0.
• B)$10,800.
• C)$14,400.
• D)$3,600.

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Definitions:

Unique Products

Goods that are distinct in nature, offering uncommon features or benefits not typically found in similar items.

Market Demand Curve

The market demand curve represents the total quantity of a good or service that all consumers in a market are willing to purchase at various prices.

Quantity Demanded

Quantity demanded refers to the amount of a good or service consumers are willing and able to purchase at a given price.

Income

The financial gains, typically recurring, from employment or returns on investments.