On December 15, 2012, a Company Receives an Order from a Customer

question 96

Multiple Choice

On December 15, 2012, a company receives an order from a customer for services to be performed on December 28, 2012. Due to a backlog of orders, the company does not perform the services until January 3, 2013. The customer pays for the services on January 6, 2013. The revenue principle requires the revenue to be recorded by the company on:

• A) December 15, 2012.
• B) January 3, 2013.
• C) December 28, 2012.
• D) January 6, 2013.

Understand the role of open workspace arrangements in facilitating informal communication among employees.

Recognize effective strategies for combating negative rumors and promoting healthy communication within organizations.

Identify the impacts of electronic communication devices on the separation between work and personal life.

Comprehend the concept and application of social network analysis within organizational management.

---

Definitions:

Credit Sales

Sales in which the customer is allowed to pay at a later date, typically used to increase sales volume.

Cash Collections

The process of gathering all payments or receivables from customers over a specific period.

Accounts Receivable

Money owed to a business by its customers for products or services that have been delivered or used but not yet paid for.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including material and labor costs.