If the Cash Is Received Before the Related Goods or Services

question 194

Multiple Choice

If the cash is received before the related goods or services are delivered,which of the following will be recorded?

• A) Unearned Revenue, a liability
• B) Accounts Receivable, an asset
• C) Pre-earned Revenue, which increases Retained Earnings
• D) Service Revenue, which increases Retained Earnings

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Definitions:

Cultural Dimension

An aspect of culture that can be measured and compared across different societies, impacting values and behavior.

Future Orientation

The extent to which an individual or organization focuses on and prepares for future events, opportunities, and potential challenges.

Humane Oriented

Refers to leadership or management practices that prioritize compassion, respect, and fair treatment of individuals.

Professional Goals

Career-oriented objectives or targets an individual aims to achieve in their professional life.