Which of the Following Entries Would Be Made as the Result

question 39

Multiple Choice

Which of the following entries would be made as the result of the revenue recognition principle?

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Service Revenue } & 1,000 & \\
• \hline \text { Service Revenue } & & 1,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Receivable } & 1,000 & \\
• \hline \text { Service Revenue } & & 1,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Salaries Expense } & 1,000 & \\
• \hline \text { Accounts Payable } & & 1,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Depreciation Expense } & 1,000 & \\
• \hline \text { Accumulated Depreciation } & & 1,000 \\
• \hline
• \end{array}\]

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A measure of the likelihood or chance of an event occurring; a value between 0 and 1.

Probability

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