Which of the Following Statements Is False

question 36

Multiple Choice

Which of the following statements is false?

• A)A liability is created when cash is received prior to delivery of the goods or services.
• B)Revenue is recognized at the time of delivery of the goods or services if cash is received.
• C)Revenue isn't recognized at the time of delivery of goods and services if cash is received after delivery of the goods and services.
• D)Collecting cash after delivery of a good or service does not create revenue on the income statement as of the date of collection.

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Definitions:

Facts

Objective and verifiable observations or statements about the world, not influenced by feelings or opinions.

Opinions

Personal beliefs or judgments that are not necessarily based on fact or knowledge.

Thick Description

The presentation of detailed data on interactions and meaning within a cultural context, from the perspective of its members.

Field Notes

Observational data recorded by researchers during or after their fieldwork, documenting their observations and experiences.