menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Fundamentals of Financial Accounting
  4. Exam
    Exam 3: Reporting Operating Results on the Income Statement
  5. Question
    If a Company Receives Payment When It Provides a Service
Solved

If a Company Receives Payment When It Provides a Service

Question 3

Question 3

Multiple Choice

If a company receives payment when it provides a service:


A) more than one journal entry is always needed.
B) cash will be credited.
C) a revenue account will be increased with a debit.
D) stockholders' equity will increase.

Correct Answer:

verifed

Verified

Related Questions

Q1: During March,the Long Life Consulting Company provides

Q5: A company received a bill of $3,500

Q6: Match the term and the explanation.There are

Q7: The following activities took place during the

Q8: A service company receives a check from

Q11: When cash is paid before the related

Q75: If revenues are not growing faster than

Q154: Net income is based on estimates.

Q161: Expenses include all of the following except:<br>A)using

Q218: Which of the following is an operating

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines