Answer:
The correct answer is letter "A": Accrual-basis revenues exceed cash collections from customers.
Explanation:
Revenue collected in advance are profits collected usually at the beginning of a contractual agreement that implies obligations from the firm for a certain time. For instance, insurance companies charging a one-time payment for an annual policy fall into this category.
The accrual basis of accounting states that profits are reported on the income statement as they are earned. In that case, if the revenue collected in advance decreases, the accrual-basis revenues will be higher than the cash collections from customers under the advanced payment method.
Answer:
Heineken is a big factory producing the beer drinsk
International Trade.
When a company sells its product over the US border into another country they are participating in International Trade.
relationship skills are important when you own a business because you know how to communicate.
Midwest enterprises uses special journals. the company borrowed $10,000 from first state bank. This transaction is recorded in the Cash receipt Journal.
A cash receipts magazine is a specialized accounting journal and it is called the main access book utilized in an accounting system to preserve track of the sales of objects while cash is acquired, with the aid of crediting sales and debiting cash and transactions related to receipts. sales on account are booked rather within the income journal.
Cash receipts journal is considered as the separate part of coins account/cash ebook as it data the cash inflow of the enterprise. The source report of this prime entry book is Receipt.
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