Which of the following is not a criterion to recognize revenue under GAAP?

A$.$ The earnings process must be completed.

B$.$ A product or service must be provided.

C$.$ Cash must be collected.

D$.$ GAAP requires that the accrual basis accounting principle be used in the revenue recognition process.

$2.9\mathrm{.}1$ Which of the following best represents the matching principle criteria?

A$.$ Expenses are reported in the period in which they were incurred.

B$.$ Expenses may be reported in a different period than the matching revenues.

C$.$ Revenue and expenses are matched based on when expenses are paid.

D$.$ Revenue is recognized when an order occurs and not when the actual sale is initiated.

$3.9\mathrm{.}1$ If a customer pays with a credit card and the service has been provided, which of the following

accounts will be used to record the sales entry for this transaction?

A$.$ Cost of Goods Sold, Merchandise Inventory, Sales Revenue

B$.$ Sales Revenue, Credit Card Expense, Accounts Receivable

C$.$ Accounts Receivable, Merchandise Inventory, Credit Card Expense

D$.$ Cost of Goods Sold, Credit Card Expense, Sales Revenue

$4.9\mathrm{.}1$ A car dealership sells a car to a customer for $$35,000.$ The customer makes a $10\%$ down payment, and

the dealership finances the remaining $90\%$ in$-$house. How much will the car dealership record in Accounts

Receivable for this customer?

A$.$ $$31,500$

B$.$ $$19,250$

C$.$ $$8,750$

D$.$ $$7,000$