If a Company Is Using Accrual Basis Accounting,when Should It

question 206

Multiple Choice

If a company is using accrual basis accounting,when should it record revenue?

• A) when cash is received, even though services may be performed at a later date
• B) when services are performed, even though cash may be received at a later date
• C) before services are performed
• D) when cash is received, 30 days after the completion of the services

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Definitions:

Glass Ceiling

An invisible barrier that prevents certain groups of people, particularly women and minorities, from advancing beyond a certain level in a hierarchy.

Qualified Women

Women who possess the necessary skills, education, and experience required for specific jobs or positions.

Minorities

Groups of individuals differentiated from the majority in a given society or community based on characteristics such as race, religion, language, or political beliefs.

Glass Ceiling

An invisible barrier that prevents minorities and women from rising to the highest ranks of power or success within a corporation or organization, despite qualifications or achievements.