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.

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Definitions:

Metabolic Alkalosis

A condition characterized by an increase in the body's pH level, indicating an excess of bicarbonate in the blood.

Hypoparathyroid

A condition characterized by insufficient production of parathyroid hormone, leading to low calcium levels in the blood.

Bone Fragility

A condition characterized by decreased bone strength, leading to an increased risk of fractures, often associated with aging or specific diseases like osteoporosis.

Albumin Level

The concentration of albumin, a major protein in the blood, which is a key marker for assessing nutritional status and liver function.