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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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