____ Assume that during 2016, Sunny Citrus company delivers the remaining bushels of oranges and collects $ 10.00 cash per bushel. Further, assume that they
____ Assume that during 2016, Sunny Citrus company delivers the remaining bushels of oranges and collects $ 10.00 cash per bushel. Further, assume that they also collect any amounts owed them as of Dec. 31, 2015. Given your earlier answers and these assumptions, which of the following statements is (are) true?
(There is no other activity in 2016 other than the activity listed above.)
A. The sum of 2015 Revenue and 2016 Revenue is the same independent of the choice of the point in time at which Sunny Citrus recognizes revenue.
B. The sum of 2015 Net Income and 2016 Net Income is the same independent of point in time at which Sunny Citrus recognizes revenue
C. Both Statements A and B are true.
D. None of the above Statements are true.
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