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Question Practice

A business has received $5,000 for services to be rendered next quarter. In which period does this amount belong?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

A business has received $5,000...

Single Answer MCQ
Q-00054333

A business has received $5,000 for services to be rendered next quarter. In which period does this amount belong?

1

Current period

2

Next quarter

3

Both quarters

4

Revenue needs to be recognized immediately

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