Revenues Are Recorded When

question 56

Multiple Choice

Revenues are recorded when:

• A)the company signs a contract.
• B)work is begun on the job.
• C)cash is received from the customer.
• D)the work is completed on the job, whether or not the cash is received.

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Definitions:

Tornado Siren

A warning system used in many communities to alert citizens about the imminent danger of a tornado.

Excludable

A characteristic of a good or service that allows the owner to prevent others from using it without permission.

Rival In Consumption

A characteristic of a good whereby its consumption by one person diminishes its availability for another person.

Hersey-Blanchard

A situational leadership model proposing that effective leadership is a combination of adaptive leadership style and the maturity level of those being led.