An Adjusting Entry Involving Recognition of Accrued Revenue Is Necessary

question 110

Multiple Choice

An adjusting entry involving recognition of accrued revenue is necessary at the end of March in which of the following situations?

• A)Midwood Consultants received payment in February for consulting services rendered in March.
• B)Midwood Consultants began working for a client on March 15;bills will be sent monthly beginning April 15.
• C)Midwood Consultants made payment in January for office rent for the first three months of the year.
• D)On March 31,a major customer paid his bill for a consulting job completed in February.

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Definitions:

Simp

A slang term often used derogatorily to describe someone who is perceived as overly subservient or attentive to someone they are attracted to, often without receiving any acknowledgment or reciprocation.

Add

In mathematical terms, to combine or unite numbers or quantities to get a sum.

Simp

Informal slang, sometimes negative, referring to someone overly subservient to someone else without reciprocation, or excessively valuing someone who does not value them in return.

Conj

A shortened term for conjunction, referring to a compound sentence formed with the word "and" to connect clauses, propositions, or terms.