In a corporation that provides consulting services, revenue should be recognized when? At the end of every month At the end of the year At the end of a fiscal period O When the service is performed When cash is received Question 15 Which account is NOT likely to be debited when revenue is recorded (i.e., when a credit to revenue is made) Accounts payable Accounts receivable O Cash O Unearned revenue O All of the above can be debited. Question 16 Depreciation is the process of Valuing an asset at its fair market value Increasing the value of an asset over its useful life in a rational and systematic manner Allocating the cost of an asset to expense over its useful life in a rational and systematic manner O Writing down an asset to its real value each accounting period All of the above are correct 4 pts 4 pts