Answer:
- The adjustment causes an increase in an asset account and an increase in a revenue account.
- Accounts receivable is usually increased when accruing revenues.
- They refer to revenues that are earned in a period, but have not been received and are unrecorded.
- They refer to earnings which have been earned but not yet billed.
Explanation:
Accrued revenue refers to cash earned for selling a good or delivering a service yet the cash has not been received and the transaction was not recorded in the books as revenue. This means that the cash has been earned but it has not been billed to the customer it was earned from.
When the books are being adjusted for this, the accounts receivable - which is an asset account - will increase to show that cash is owed. Revenue will also increase as this was cash earned from delivering a good or service.
Its an asset of the household or business.
Demand for the product,the season the product is in or if its outdated
The type of Critical Thinking Questions that Ivory should ask at this point are:
- What are the assumptions?
- what are the issues and the conclusions?
- Are there fallacies in the reasoning?
- How authentic is the data presented?
<h3>What are Critical Thinking Questions?</h3>
Critical Thinking Questions are questions that make inquiries into the veracity of a claim.
They help the evaluator to maintain a logical and rational line of thoughts so that they are able to connect clearly the relationship between facts and ideas.
Learn more about Critical Thinking Questions at:
brainly.com/question/6034421
