Case-Based Critical Thinking Questions

question 25

Multiple Choice

Case-Based Critical Thinking Questions
Case 4-1
In PowerPoint 2016, Jake wants to change the slide background to a photo on his computer. He is walking through a tutorial given to him by a co-worker.
-To add a picture to the Slide background, Jake first clicks the _____ tab.

• A)Home
• B)Design
• C)Format
• D)Edit

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Definitions:

Recognition

In accounting, recognition refers to the formal recording of an item in the financial statements, acknowledging its existence and the fact that it meets the criteria for financial reporting.

Revenue

Income that a business receives from its normal business activities, usually from the sale of goods and services to customers.

Deferral

A deferral occurs when cash related to a future revenue or expense has been initially recorded as a liability or an asset.

Unearned Revenue

Money received by a business for goods or services that have yet to be delivered or performed.