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:

Domain

The set of all possible input values (usually x-values) for which a function is defined.

Range

The difference between the highest and lowest values in a set of data or, in functions, the set of all possible output values.

\(C ( x )\)

Commonly represents a function of x in mathematics, indicating the cost, capacity, or another quantity varying with x.

Domain

The set of all possible input values (usually x-values) for which a function or relation is defined.