Cash for Services to Be Performed in 2014 Is Received

question 72

Multiple Choice

Cash for services to be performed in 2014 is received in 2013. Using the accrual basis of accounting, the revenue should appear on:

• A) the 2014 income statement
• B) both the 2013 and 2014 income statements
• C) neither the 2013 nor 2014 income statement
• D) the 2013 income statement

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Definitions:

Psychological Theorists

Researchers and scholars who study and develop theories on how people think, feel, and behave.

Sociological Theorists

Scholars and researchers who specialize in developing theories to understand social behaviors, structures, and systems.

Retroactive Interference

A memory disturbance in which new information impairs the retention of previously learned information.

Proactive Interference

The phenomenon where old memories make it more difficult to learn and remember new information.