Which of the following is not an application of accrual accounting?
a. Recording advertising fees earned at the time the work is done
b. Adjusting unearned advertising fees to the proper balance at the end of the month
c. Recording advertising fees earned at the time the cash payment is received
d. Recording telephone expense in the accounting period covered by the monthly bill
C
You might also like to view...
In the liquidation of the partnership, adjusting and closing entries are made when normal operations are discontinued
a. True b. False Indicate whether the statement is true or false
The basis of power that comes from having respected or admiration for a leader is ______.
a. formal b. expert c. personal d. reward
An individual may not be granted a discharge if the individual ________.
A. works for a corporation B. has obtained a loan from a secured creditor C. has obtained one within the previous eight years D. submits to the questioning of the creditors
Which of the following defines variable cost behavior when activity increases within its relevant range? Total cost reaction to increase in activity Cost per unit reaction to increase in activity
a. remains constant remains constant b. remains constant increases c. increases increases d. increases remains constant