A Customer Orders a Heavy Duty Machinery from Yukon Inc

question 21

Multiple Choice

A customer orders a heavy duty machinery from Yukon Inc in October.Yukon manufactures it in November and ships it along with their bill in December and receives payment in January.If Yukon is to recognize revenue in January,they are following:

• A)Credit basis accounting
• B)Accrual-basis accounting
• C)Cash basis accounting
• D)Debit basis accounting

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Definitions:

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together, without necessarily implying causation.

Travel the World

The act of visiting various countries or regions across the globe, often for exploration or leisure.

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A complex pattern of characteristics, behaviors, and thought processes that defines an individual's personal identity and distinguishes them from others.

Interactionism

In psychology, the theory that there are reciprocal interactions between an individual's behavior and their environment, including the social context.