Complete Electronics Inc

question 41

Multiple Choice

Complete Electronics Inc.sells a point-of-sale computer with a two-year service contract.Complete collects $3,000 cash for the selling price of the computer and $576 for the two-year service contract.How is revenue recognized?

• A)Complete will record Sales Revenue of $3,576 when the computer is delivered to the customer.
• B)Complete will record Sales Revenue of $1,788 per year for two years.
• C)Complete will record Sales Revenue of $3,000 when the computer is delivered and Service Revenue of $24 per month for 24 months.
• D)Complete will record Sales Revenue of $3,000 when the computer is delivered and will record revenue for the service contract as service calls are made.

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Definitions:

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An item within Microsoft Access, such as a table, query, form, or report, used to manage and analyze data.

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A field type in databases designed to store boolean values, indicating either a "Yes" (true) or "No" (false) state.