Which Is Not an Application of Revenue Recognition

question 212

Multiple Choice

Which is not an application of revenue recognition?

• A) Recording revenue as an adjusting entry on the last day of the accounting period.
• B) Accepting cash from an established customer for services to be performed over the next three months.
• C) Billing customers on June 30 for services completed during June.
• D) Receiving cash for services performed.

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Definitions:

Transpiration

How plants transport moisture from their roots to small holes located on the leaf undersides, converting to vapor and then releasing it into the atmosphere.

Xylem

The vascular tissue in plants that conducts water and dissolved nutrients from the roots to the rest of the plant.

Phloem

The portion of a plant's vascular system responsible for transporting sugars and other metabolic products downward from the leaves.

Nitrogen-Fixing Bacteria

Microorganisms capable of converting atmospheric nitrogen into compounds usable by plants.