On December 15, 2013, a Company Receives an Order from a Customer

question 122

Multiple Choice

On December 15, 2013, a company receives an order from a customer for services to be performed on December 28, 2013. Due to a backlog of orders, the company does not perform the services until January 3, 2014. The customer pays for the services on January 6, 2014. When should revenue be recorded by the company?

• A) December 15, 2013
• B) January 3, 2014
• C) December 28, 2013
• D) January 6, 2014

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Definitions:

Vulva

External genitalia of the female, composed of the mons pubis, the labia majora and minora, the clitoris, the vestibule of the vagina and its glands, and the opening of the urethra and of the vagina; also called pudendum.

Mons Pubis

A rounded mass of fatty tissue found over the pubic bone of adult females, becoming more prominent after puberty.

Clitoris

An erectile organ in the female reproductive system, sensitive to sexual arousal and pleasure.

Follicular Phase

Time between the end of menses and ovulation, characterized by rapid division of endometrial cells and development of follicles in the ovary; also called proliferative phase.