Which of the following is true about the accounting for customer advances and deposits? ...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Which of the following is true about the accounting for customer advances and deposits? They are always classified as current liabilities. They are classified based on the time involved between the date of the deposit and the termination of the relationship. They are recorded as revenue when received. They are not recorded until the service is performed or the merchandise is issued.
Which of the following is true about the accounting for customer advances and deposits?
They are always classified as current liabilities.
They are classified based on the time involved between the date of the deposit and the termination of the relationship.
They are recorded as revenue when received.
They are not recorded until the service is performed or the merchandise is issued.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.