The Following Events Pertain to Bills Company

question 33

Multiple Choice

The following events pertain to Bills Company:

Using cash-basis accounting,on which date should Bills Company record revenue for the accounting and tax services?

• A)December 30,2012.
• B)December 31,2012.
• C)January 4,2013.
• D)January 11,2013.

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Definitions:

Marketers

Individuals or companies engaged in promoting, selling, and distributing a product or service.

Industry

A category of businesses that produce or sell similar products or services, characterized by common challenges, opportunities, and market structures.

Network Effect

The phenomenon whereby a product or service gains additional value as more people use it.

Virtuous Circle

A chain of events that reinforce themselves through a feedback loop, leading to positive outcomes in a business or economic context.