A Company Entered into a 2-Month Contract for $50,000 on April

question 198

True/False

A company entered into a 2-month contract for $50,000 on April 1. It earned $25,000 of the contract services in April and billed the customer. The company should recognize the revenue when it receives the customer's check.

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Definitions:

Long Sentences

Sentence structures that are extended in length, often containing multiple clauses and complex information.

Faulty Parallelism

A grammatical error where parts of a sentence that are meant to be parallel in structure do not match in form or order.

Illustrates

To explain or make something clear by using examples, pictures, or diagrams.

Fishing

The activity of catching fish either for sport or as a means of livelihood.