When Using a Revenue Journal

question 104

Multiple Choice

When using a revenue journal:

• A) both a "Fees Earned" and an "Accounts Receivable" column are included.
• B) both cash sales and sales on account are posted to the journal.
• C) revenues are normally recorded when the company sends customer invoices.
• D) postings to customer accounts are done at month end.

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Definitions:

45-degree Line

In economics, a reference line that represents where the quantity demanded equals the quantity supplied.

Indeterminate

A state in which something cannot be exactly established, known, or decided.

Positive

A descriptor indicating an increase, growth, or beneficial effect in a particular context.

Constant

A value or parameter in mathematics and science that remains unchanged throughout a given discussion, analysis, or calculation.