If a Company Is Using the Accrual Method of Accounting

question 81

Multiple Choice

If a company is using the accrual method of accounting, when is revenue recorded?

• A)When cash is received, before the completion of the services
• B)When cash is received, 30 days after the completion of the services
• C)When cash is received, even though services may be rendered at a later date
• D)When services are rendered, even though cash may be received at a later date

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Definitions:

Macrosociological

Pertaining to the study of large-scale societal structures and processes, including the analysis of social systems and institutions.

Microsociological

Microsociological approaches focus on small-scale interactions and processes among individuals, examining how they influence social structures and relationships.

Primary Labor Market

The segment of the labor market characterized by stable, well-paid jobs, often with benefits and opportunities for advancement, typically requiring higher education and skills.

Pink-Collar Jobs

Describes the types of employment traditionally held by women, particularly roles that are service-oriented, such as nursing, teaching, and secretarial work.