Question

Under accrual accounting, revenue is recorded: (a) when the service is provided and cash has been...

Under accrual accounting, revenue is recorded:

(a) when the service is provided and cash has been received

(b) when cash is received without regard to when the service is provided

(c) when the service is provided and collection of cash is reasonably certain

0 0
Add a comment Improve this question Transcribed image text
Answer #1

The correct answer is :

(c) when the service is provided and collection of cash is reasonably certain.

Note:

Under accrual accounting revenue is recorded when the service is rendered. It is not considered whether the payment for the same is immediately received. The certainty to receive the amount is considered while recording the revenue.

Add a comment
Know the answer?
Add Answer to:
Under accrual accounting, revenue is recorded: (a) when the service is provided and cash has been...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT