When a Company Has Performed a Service but Has Not

question 47

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 Service Revenue and credits Accounts Receivable.
• C)debits Service Revenue and credits Accounts Payable.
• D)makes no entry until the cash is received.

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Definitions:

To-Do List Window

This is an interface feature within project management or personal productivity software that displays pending tasks or reminders to be completed.

Notes Pane

A section in presentation software that allows the user to enter speaker notes or comments for a specific slide.

Record Information

The act of storing data or details about specific events, transactions, or activities for future reference.

Assigned Task

A specific duty or responsibility given to a person or group, often outlined with expected outcomes and completion timelines.