During 2016, Sigma Company Earned Service Revenue Amounting to $700,000

question 95

Multiple Choice

During 2016, Sigma Company earned service revenue amounting to $700,000, of which $630,000 was collected in cash; the balance will be collected in January, 2017. Also in 2016 there were collections of cash prior to the delivery of goods/services totaling $10,000. What amount should the 2016 income statement report for service revenue?

• A)$630,000.
• B)$700,000.
• C)$70,000.
• D)$570,000.

Employ mutual problem-solving skills in the nurse-patient relationship.

Acknowledge the patient's narrative about their illness to enhance care delivery.

Identify and demonstrate caring behaviors critical in nursing practice.

Develop strategies to enable nursing environments that support caring behaviors.

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Definitions:

Incorrect Decisions

Actions or choices made based on faulty reasoning, incorrect information, or a misunderstanding of the situation.

Internal Rate

Represents the internal rate of return (IRR), a metric used to estimate the profitability of potential investments.

Discount Rate

is the interest rate used in discounted cash flow analysis to determine the present value of future cash flows, affecting investment valuations and interest rates on loans.

Net Present Value

The current value of a series of future cash flows, discounted back to the present using a specific rate.