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QUESTION 4 Jim's Tune-Up Shop follows the revenue recognition principle. Jim services a car on 31 July. The customer picks up the vehicle on 1
QUESTION 4
Jim's Tune-Up Shop follows the revenue recognition principle. Jim services a car on 31 July. The customer picks up the vehicle on 1 August and mails the payment to Jim on 5 August. Jim receives the cheque in the mail on 6 August. When should Jim show that the revenue was earned?
a. | 31 July. | |
b. | 1 August. | |
c. | 5 August. | |
d. | 6 August. |
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