Argyle Designs Has a Contract to Design 20 New Dresses

question 146

True/False

Argyle Designs has a contract to design 20 new dresses for a customer,and will collect a total of $40,000 when the design services are complete.They start on June 1.As of June 30,Argyle has finished 4 of the 20 designs.They will make an adjusting entry at the end of June to accrue $10,000 of service revenue.

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Definitions:

Time-Bound

Relating to objectives or initiatives that have a specific duration or deadline by which they must be achieved or completed.

Motivation

is the psychological drive or force that prompts an individual to act in a certain way to achieve specific goals or satisfy needs.

SMART Goal

A framework for setting objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound, facilitating clear and attainable goal-setting.

Specific

Pertaining to a distinct or particular item, characteristic, or quality, clearly defined or identified.