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Check my pro Q4.64: In April, Keller Associates carries out a two-week consulting project for Apex Industries. The total bill
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Answer #1

Answer:

Violated the revenue recognition principle because this principle requires that all revenue related to the Apex project be recognized in April.

Explanation:

This scenario is a clear violation of revenue recognition principle because this principle requires that all revenue related to the Apex project be recognized in April. Keller Associates is entitled to recognize this income of $25,000 in the month of April and it must be shown as a Accounts receivable in the books of accounts until May when the payment is received.

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