On December 15, 2010, a Company Receives an Order from a Customer

question 101

Multiple Choice

On December 15, 2010, a company receives an order from a customer for services to be performed on December 28, 2010. Due to a backlog of orders, the company does not perform the services until January 3, 2011. The customer pays for the services on January 6, 2011. The matching principle requires the revenue to be recorded by the company on:

• A)December 15, 2010.
• B)January 3, 2011.
• C)December 28, 2010.
• D)January 6, 2011.

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Definitions:

Traditional Rituals

These are established patterns of behavior or ceremonies that are passed down within a culture, imbued with symbolic meaning and significance.

TRC

Can refer to a Truth and Reconciliation Commission, which is a commission tasked with discovering and revealing past wrongdoing by a government, in the hope of resolving conflict left over from the past.

South Africa

A country at the southern tip of Africa, known for its diverse culture, languages, and geographic landscapes.

Overarching Goal

The primary, broad objective that guides decision-making and strategy in various contexts, often encompassing several smaller objectives or efforts.