Consider the Following Events for Betterment Incorporated: Under Accrual-Basis Accounting,what

question 85

Multiple Choice

Consider the following events for Betterment Incorporated: Under accrual-basis accounting,what is the appropriate day to record the revenues related to lawn services?
$$\begin{array} { | l | l | } \hline \text { January } 1 & \text { Betterment purchases gasoline for } \$ 200 \text { on account. } \\\hline \text { January } 7 & \text { Betterment advertises lawn mowing services for } \$ 100 \text { per lawn. } \\\hline \text { January } 9 & \text { Betterment signs up } 8 \text { customers who pay a total of } \$ 800 \text { cash. } \\\hline \text { January } 12 & \begin{array} { l } \text { Betterment mows the lawns of the } 8 \text { customers and all gasoline purchased on } \\\text { January } 1 \text { is used. }\end{array} \\\hline \text { January } 13 & \text { Betterment pays for the gasoline purchased on Januay } 1 . \\\hline\end{array}$$

• A)January 1.
• B)January 7.
• C)January 9.
• D)January 12.

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Definitions:

Mavens

Individuals recognized for their knowledge and insights in specific areas, often influencing the opinions and decisions of others.

Core Ties

The strong, essential relationships within a person's social network, often characterized by significant emotional closeness and support.

Organizational Authority

The power vested in a role or roles within an organization to make decisions, direct tasks, and enforce rules.

Legitimate

Something that is legal, rightful, and in accordance with recognized or accepted standards or principles.