In Which of the Following Transactions Would It Not Be

question 12

Multiple Choice

In which of the following transactions would it not be appropriate to recognize an asset in the financial statements?

• A)SGG receives a firm commitment from another company to purchase goods from SGG.
• B)SGG pays $10,000 to a lawyer for services to be provided next year.
• C)SGG provides services to another company, but will not be paid until after year end.
• D)A customer of SGG makes a deposit of $1,500 for goods to be custom-made.

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Definitions:

HDMI

High-Definition Multimedia Interface, a digital interface for transferring high definition video and audio data from a source device to a display device without loss of quality.

Audio And Video

Refers to the technology and media associated with sound and visual components, often used in entertainment, communications, and information.

Compression

The technique of reducing the size of data to save space or transmission time.

Ergonomics

How a user sets up his or her computer and other equipment to minimize risk of injury or discomfort.