On December 27, 2015, ABC, Inc receives a $5,000 deposit by a customer for some remodeling that is scheduled to be started on December 29, 2015 and completed on January 3, 2016. The company president tells the accountant to go ahead and book the $5,000 as revenue since the completion of the project will only take a few days. What is the ethical dilemma involved?

A. There is no dilemma. Since the completion of the work is imminent, there is no problem with treating this receipt of cash as a revenue.

B. There is no dilemma. A companys accountant should always follow request by a companys president.

C. The dilemma has to do with the balance of cash. The cash should not be recorded until the completion of the project.

D. The dilemma lies with the concept of Revenue Recognition. Revenue cannot be recorded until a service has been performed. Since the remodeling project will not be completed until January 3rd, the revenue cannot be recognized until then.