Multiple Choice
Which of the following is not an example of the application of the revenue principle?
A) Recording the sale of merchandise on credit in sales revenue.
B) Recording rent received in advance as rent revenue.
C) Recording accrued interest revenue on a loan made to another party.
D) Recording the sale of merchandise for cash in sales revenue.
Correct Answer:
Verified
Correct Answer:
Verified
Q29: An expense account is a subdivision of
Q57: Operating revenues result from the sale of
Q58: Which of the following would be included
Q59: A company that ships product to its
Q61: A company purchased and received $3,500 worth
Q63: It is not optimal to borrow any
Q64: Comprehensive income includes all changes in equity
Q66: Which of the following is an advantage
Q67: On December 10, 20X6 Canadian Vessels placed
Q135: The normal balance of all accounts is