A Company Makes a $200 Sale on Account

question 57

Multiple Choice

A company makes a $200 sale on account. It later collects the $200 in cash. Under the accrual method of accounting, revenue is recognized:

• A)when the cash is collected.
• B)when the sale is made.
• C)either when the cash is received or the sale is made.
• D)at a time that cannot be determined from the facts.

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Definitions:

Reproductive Technologies

Medical and technological interventions designed to assist in reproduction and address infertility issues, including in vitro fertilization (IVF), surrogate motherhood, and genetic engineering.

Kinship Terminology

The system of terms used within a culture or society to refer to familial relationships, delineating roles and connections between family members.

Social Class

A way to categorize people in society based on their wealth, occupation, education, and other social indicators.

Generational Kinship

Relationships defined by shared lineage or descent across multiple generations within a family or community.