When the Seller Has Received Cash, but Has Not Earned

question 138

Multiple Choice

When the seller has received cash, but has not earned all of the revenues represented by the cash by providing goods and services, the seller has incurred an obligation to provide goods or services. These liabilities

• A)are referred to as deferred performance obligations.
• B)may use an account title of Advances from Customers.
• C)may use an account title of Deferred Revenues.
• D)may use an account title of Unearned Revenues.
• E)can be all of the above.

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Definitions:

Damage Performance

The negative impact on the effectiveness, efficiency, or quality of one's work or performance.

Mindfulness

A mental state achieved by concentrating on the present moment, while calmly acknowledging and accepting one’s feelings, thoughts, and bodily sensations, used as a therapeutic technique.

Work Stress

The experience of stress related to the demands of work, potentially impacting an individual's performance and wellbeing.

Hopeful

Feeling or expressing optimism about a future event or outcome.