When a Company Has Performed a Service but Has Not

question 182

Multiple Choice

When a company has performed a service but has not yet received payment, it

• A)debits accounts receivable and credits service revenue.
• B)debits revenue from services and credits accounts receivable.
• C)debits revenue from services and credits accounts payable.
• D)makes no entry until the cash is received.

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Definitions:

Online Fraud

A type of scam that occurs over the internet, involving the theft of personal information or money.

Phishing

A cyber attack that uses disguised emails as a weapon to trick individuals into revealing personal information, such as passwords and credit card numbers.