When a Service Has Been Performed,but No Cash Has Been

question 66

Multiple Choice

When a service has been performed,but no cash has been received,which of the following statements is true?

• A)The entry would include a debit to Accounts Receivable.
• B)The entry would include a debit to Accounts Payable.
• C)The entry would include a credit to Unearned Revenue.
• D)No entry is required until the cash is received.

---

Definitions:

Shareholders Statement

A documented communication from a corporation to its shareholders, detailing financial performance, strategies, and corporate actions.

Accrued Expenses Report

A financial document detailing costs that have been incurred but not yet paid for, typically within an accounting period.

Operating Expenses

The costs of running your business, including your rent, utilities, administration, marketing/advertising, employee salaries, and so on.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including materials and labor.