Revenue for Which the Service Has Been Performed but No

question 21

True/False

Revenue for which the service has been performed but no entry has been made in the accounting records is accrued revenue.

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Definitions:

Total Utility

The complete fulfillment obtained from the consumption of a specific overall amount of a product or service.

Satisfaction

The feeling of fulfillment or contentment one derives from meeting a need or desire.

Marginal Utility

The added utility or pleasure derived by a consumer from consuming another unit of a good or service.

Additional Satisfaction

The joy or utility gained from consuming one more unit of a good or service.