Multiple Choice
Clarion Corp.invested cash in a six-month certificate of deposit (CD) on November 1,2017.If Clarion Corp.has an accounting period that ends on December 31,2017,when should Clarion recognize interest revenue from the CD?
A) On December 31,2017,only
B) On May 1,2018,only
C) Both December 31,2017,and May 31,2018
D) On the date when its income tax return is filed
Correct Answer:
Verified
Correct Answer:
Verified
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