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:

Modern Life

Refers to the lifestyle and conditions of living in contemporary society, often depicted in art, literature, and culture studies.

Transitory

Having a brief or temporary nature; something not permanent or enduring over time.

Impersonal Nature

Refers to characteristics or processes not influenced by human feelings, opinions, or biases, often highlighting the impartial or objective aspect of something.

Camille Pissarro

Camille Pissarro was a Danish-French Impressionist and Neo-Impressionist painter known for his contributions to both movements and his focus on landscapes and rural scenes.