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:

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Emotional bonds that form between individuals, such as between children and their caregivers, crucial for personal development.

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Experiencing worry, unease, or nervousness, typically about an imminent event or something with an uncertain outcome.

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The process by which an organism learns to avoid a food or flavor that it associates with illness or discomfort.