Which of the Following Is Not an Example of the Application

question 62

Multiple Choice

Which of the following is not an example of the application of the revenue principle?

• A) Recording the sale of merchandise on credit in sales revenue.
• B) Recording rent received in advance as rent revenue.
• C) Recording accrued interest revenue on a loan made to another party.
• D) Recording the sale of merchandise for cash in sales revenue.

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Definitions:

Eye Witness

An individual who has directly observed an event and can provide a firsthand account of it.

Subpoena

A legal document issued by a court that orders an individual to appear as a witness or produce evidence in a legal proceeding.

Receipt-Of-Service

A document or notification confirming the delivery and receipt of legal documents or other important materials.

Acknowledgement-Of-Service

A legal document indicating that a party has received the legal papers being served.