During 2019,Sigma Company Earned Service Revenue Amounting to $700,000,of Which

question 29

Multiple Choice

During 2019,Sigma Company earned service revenue amounting to $700,000,of which $630,000 was collected in cash;the balance will be collected in January,2020.Also in 2019,there were collections of cash prior to the delivery of goods/services totaling $10,000.What amount should the 2019 income statement report for service revenue?

• A)$630,000.
• B)$700,000.
• C)$70,000.
• D)$570,000.

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Definitions:

Planning

The process of making plans for something, including setting goals, defining strategies, and outlining tasks and schedules.

Demographics

Statistical data relating to the population and particular groups within it, often used for marketing or policy-making purposes.

Psychographics

The study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.

Quantifiable Characteristics

Attributes or features of an object or project that can be measured and expressed numerically.