Your company receives advance payment in October for services that are provided during November. Which of the following statements is correct?
(A) An expense is recorded in October and revenue will be recorded in November.
(B) A liability is recorded in October and revenue will be recorded in November.
(C) Revenue and expenses are recorded in October.
(D) Revenue is recorded in October and an expense will be recorded in November.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Your company receives advance payment in October for services that are provided during November. Which of the following statements is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Pirate Corporation acquired 85 percent of Ship Company's voting shares of stock in 20X7. During 20X8, Pirate purchased 50,000 circuit boards for $15 each and sold 28,000 of them to Ship for $20 each.
Answers (1)
Horizontal analysis: Multiple Choice Evaluates financial data across industries. Is a method used to evaluate changes in financial data across time. Is also called vertical analysis.
Answers (1)
System testing: A) rolls system tests out to separate business divisions for independent results. B) tests each program separately. C) tests the functioning of the system as a whole.
Answers (1)
Google: What is product development?
Answers (1)
At a sales volume of 30,000 units, Carne Company's total fixed costs are $30,000 and total variable costs are $45,000. The relevant range is 20,000 to 40,000 units.
Answers (1)
New Questions in Business
The best way for an employer to find out if a potential employee can do a job is by
Answers (1)
Tiffany is an architect for the building of a large office complex downtown. Frequently a group of steel workers whistle at her as she climbs a ladder or interacts with staff. The men's actions create a hostile work environment. a) true b) false
Answers (1)
Monica heard that as a general rule, she should spend no more than one week's pay on rent. If Monica's salary is $42,068 per year, what is the maximum amount per month that she should spend on rent?
Answers (1)
Which of the following statements regarding a firm's optimal capital structure are true? Check all that apply. The optimal capital structure maximizes the firm's stock price. The optimal capital structure minimizes the firm's WACC.
Answers (1)
Briefly describe how people's success and self confidence are related.
Answers (2)