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:

CBC

Complete Blood Count, a blood test that measures red cells, white cells, and platelets in the blood.

Red Bone Marrow

Red bone marrow is a soft tissue inside bones that is responsible for producing red blood cells, white blood cells, and platelets.

Rh Factor

A protein found on the surface of red blood cells, significant in determining blood compatibility and risk factors in pregnancy.

Immunogenic Responses

The reaction of the immune system to a foreign substance, leading to the production of antibodies or cell-mediated immunity.