When Does a Company Account for Revenue If It Uses

question 132

Multiple Choice

When does a company account for revenue if it uses cash basis accounting?

• A) when services are performed, even though cash may be received at a later date
• B) before services are performed
• C) when the services are being performed
• D) when cash is received, either prior to, at the time of, or after the services are performed

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Definitions:

Nonprofit Programs

Nonprofit programs are initiatives or projects undertaken by nonprofit organizations, aimed at serving the public interest or specific societal needs without the intention of making profits for distribution.

External Migration

The process of moving outside one's country or region of origin to live in another country or region.

Power

The ability of individuals or groups to impose their will upon others and make them do things even against their own wants or wishes.

Military Spending

refers to a government's expenditure on its defense forces and activities, encompassing all aspects from salaries to procurement of weapons and maintenance of facilities.