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

question 130

Multiple Choice

Consider the following events for Sophia Incorporated: Under accrual-basis accounting,what is the appropriate day to record the revenues from the sand volleyball camp?
$$\begin{array} { | l | l | } \hline \text { April } 5 & \text { Sophia purchases volley balls for } \$ 200 \text { on account. } \\\hline \text { April } 6 & \text { Sophia advertises a sand volleyball camp for } \$ 20 \text { a person. } \\\hline \text { April } 12 & \text { Thiry people sign up for the camp paying a total of } \$ 600 . \\\hline \text { April } 21 & \text { Sophia hosts the sand volleyball camp. } \\\hline \text { April } 23 & \text { Sophia pays for the volleyballs purchased on April } 5 . \\\hline\end{array}$$

• A)April 5.
• B)April 6.
• C)April 12.
• D)April 21.

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Definitions:

Flexibility

The ability of a supply chain to adjust its operations and adapt to changes, including demand variability, supply disruptions, and market conditions.

Supply Chain Managers

Are professionals responsible for overseeing and managing every stage of the production flow, from the acquisition of raw materials to the delivery of the final product.

Offshoring

The practice of relocating business operations from the home country to another country, often to take advantage of lower labor costs.

Total Cost

The aggregate expense associated with producing or acquiring goods or services, including fixed and variable costs.