Using the Accrual Basis,which One of the Following Entries Would $\quad$

question 89

Multiple Choice

Using the accrual basis,which one of the following entries would properly record Canon's revenue recognition for October?

• A) DR Cash\(\quad\)\(\quad\)40,000
• CR Copier sales\(\quad\)\(\quad\)40,000
• B) DR Cash\(\quad\)16,000
• CR Copier sales\(\quad\)16,000
• C) DR Cash\(\quad\)\(\quad\)16,000
• DR Accounts receivable\(\quad\)\(\quad\)24,000
• CR Copier sales\(\quad\)\(\quad\)40,000
• D) DR Accounts receivable\(\quad\)40,000
• CR Copier sales\(\quad\)40,000

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Definitions:

Co-branding

A partnership between two or more brands to create a product or service that leverages the strength of each brand's identity.

Line Extension

A strategy where a company expands its existing product line into new variations or flavors to meet different customer needs or to capture a wider market.

Recoup Investment

The process of regaining the money that has been spent on an investment, usually via profits generated from the investment.

Brand Relevant

The degree to which a brand is perceived as important and meaningful to its target audience's needs and preferences.