Accounting for Revenue When No Entry of Revenue Is Made

question 57

Multiple Choice

Accounting for revenue when no entry of revenue is made in the accounts until cash is received for the services performed is called

• A) matching basis revenue.
• B) cash basis expense.
• C) service basis accounting.
• D) modified cash basis.

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Definitions:

Quick Agreement

A rapid consensus or approval between parties on a particular matter or deal.

Additional Benefits

Extra advantages or perks offered beyond the basic terms, often used to enhance a proposal, package, or employment offer.

Requests Overcome

The process of addressing and managing opposition or resistance to requests made.

Immediate Information

Data or facts that are readily available and can be accessed without delay, often crucial for decision-making processes.