Dandridge Company Collected Cash in 2012 from a Customer for Services

question 136

Short Answer

Dandridge Company collected cash in 2012 from a customer for services to be performed beginning January 2013. Indicate whether each of the following statements about this transaction is true or false.
_____ a) Dandridge's 2012 income statement would not be affected by this transaction.
_____ b) Dandridge's 2012 statement of cash flows would be affected by this transaction.
_____ c) This transaction is an asset exchange transaction.
_____ d) The revenue for the services provided will be recorded in 2013.
_____ e) This transaction is considered an accrual transaction.

---

Definitions:

Sexism

Discrimination or prejudice based on a person's sex, often resulting in undermining the opposite sex.

Taboos

Social or cultural practices that are prohibited or strongly discouraged within a community or society.

Narcotic Use

The utilization of drugs that dull the senses, relieve pain, and can lead to dependence, often referred to in the context of substance abuse.

Herbal Teas

Beverages made from the infusion or decoction of herbs, spices, or other plant materials in hot water, often consumed for their therapeutic benefits.