During May,2018,Sugar Inc

question 7

Multiple Choice

During May,2018,Sugar Inc.performs consulting services.The client does not pay Sugar until June,2018.

• A)Using the accrual basis of accounting,the revenue is reported in June 2018.
• B)Using the cash basis of accounting,the revenue is reported in May 2018.
• C)Using the accrual basis of accounting,the revenue is reported in May 2018.
• D)Using the accrual basis of accounting,the revenue is reported when Sugar's expenses are paid.

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Definitions:

Transgenic Lab Animals

Animals genetically modified to carry genes from another species, used extensively in research to study diseases, genetics, and the effects of genes.

Human Genes

The fundamental units of heredity in living organisms that are made up of DNA and determine specific characteristics by coding for proteins.

Human Diseases

Disorders or illnesses that affect humans, which can be caused by factors such as pathogens, genetics, or environmental conditions.

Southern Blot

A technique in which DNA fragments, previously separated by gel electrophoresis, are transferred to a nitrocellulose or nylon membrane and detected by autoradiography or chemical luminescence. Compare with Northern blot and Western blot.