Multiple Choice
Your company receives advance payment in October for services that are provided during November.Which of the following statements is correct?
A) A liability is recorded in October; revenue will be recorded in November.
B) Revenue is recorded in October and an expense will be recorded in November.
C) An expense is recorded in October; revenue will be recorded in November.
D) Revenue and expenses are recorded in October.
Correct Answer:
Verified
Correct Answer:
Verified
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