On November 1,2016,Taylor Signed a One-Year Contract to Provide Handyman

question 301

Multiple Choice

On November 1,2016,Taylor signed a one-year contract to provide handyman services on an as-needed basis to King Associates,with the contract to start immediately.King agreed to pay Taylor $4,800 for the one-year period.Taylor is confident that King will pay that amount,but payment is not scheduled to occur until 2017.Taylor should recognize revenue in 2016 in the amount of

• A)$0
• B)$800
• C)$2,400
• D)$4,800

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Definitions:

Migration

The movement of people from one place to another, often across political or economic boundaries, for various reasons including work, education, or escape from conflict.

Living Costs

The necessary expenses that individuals incur in order to maintain a standard of living, including housing, food, taxes, and healthcare.

Expected Gains

Anticipated benefits or profits that are expected from an investment, project, or decision.

Total Wage Bill

The total amount of money paid by an employer to its employees as wages.