Which of the Following Transactions Should Not Result in Revenue

question 23

Multiple Choice

Which of the following transactions should not result in revenue recognition in 2016?

• A) Services for a customer were carried out on credit in 2016,to be collected in 2017.
• B) Services were carried out for a customer for cash in 2016.
• C) Payment was received from a customer in 2016,for services provided in 2015.
• D) Goods were sold to a customer on credit in 2016,with cash to be collected in 2017.

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Definitions:

Summarization

The process of condensing information to present the main points succinctly.

E-mail

E-mail, short for electronic mail, is a method of exchanging messages and documents over a network or the internet between two or more individuals.

Concluding Reflection

The final stage of an activity or process in which participants reflect on what has been learned or achieved, considering future implications and actions.

Blind Copy

A copy of a document or email sent to a recipient such that other recipients are unaware of that recipient's inclusion.