Which of the Following Entries Would Be Made as the Result

question 153

Multiple Choice

Which of the following entries would be made as the result of the revenue recognition principle?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Service Expense } & 1,000 & \\
• \hline \text { Service Revenue } & & 1,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Accounts Receivable } & 1,000 & \\
• \hline \text { Service Revenue } & & 1,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Salaries Expense } & 1,000 & \\
• \hline \text { Accounts Payable } & & 1,000 \\
• \hline
• \end{array}\]
• D) \(\begin{array}{|c|r|r|}
• \hline \text { Depreciation Expense } & 1,000 & \\
• \hline \text { Accumulated Depreciation } & & 1,000 \\
• \hline
• \end{array}\)

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Definitions:

Population

The total number of people or inhabitants in a specified area or country.

65 Years Old

A common age of retirement in many societies, also considered the beginning of senior citizen or elderly status.

Group of States

An alliance or collective of countries that collaborate for political, economic, or military purposes.