When, at the end of an accounting period, a revenue has been recognized in the financial statements

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When, at the end of an accounting period, a revenue has been recognized in the financial statements but no billing has occurred and no cash has been received, the accrual is to:

A. unbilled (accrued) revenue, an asset.

B. deferred revenue, an asset.

C. unbilled (accrued) revenue, a liability.

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International Financial Statement Analysis CFA Institute Investment Series

ISBN: 9780470287668

1st Edition

Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie

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Question Posted: Feb 14, 2024 09:01 AM

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When, at the end of an accounting period, a revenue has been recognized in the financial statements

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In accounting the principle of accrual recognizes revenue when it is earned irrespective of when the ...View the full answer

International Financial Statement Analysis CFA Institute Investment Series

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