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.

---

Definitions:

Peer-assisted Learning

A collaborative educational approach where students learn with and from each other, exchanging knowledge and skills.

Acquiring Knowledge

Acquiring knowledge, insights, and abilities via direct experience, formal education, or instruction.

Self-fulfilling Prophecy

A belief or expectation that an individual holds about a future event that manifests because the individual holds it.

Self-determination Theory

A psychological theory that emphasizes the importance of autonomy, competence, and relatedness in fostering intrinsic motivation and psychological growth.