True or false: revenue is recorded when services are performed, whereas deferred revenue is recorded when cash is received from customers in advance before services are performed.

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29-08-2022
Business

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True or false: revenue is recorded when services are performed, whereas deferred revenue is recorded when cash is received from customers in advance before services are performed.

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ProfChris1 ProfChris1 · Answer 1 · 2022-09-08T16:16:35+02:00

We can actually deduce here that the statement, "revenue is recorded when services are performed, whereas deferred revenue is recorded when cash is received from customers in advance before services are performed" is true.

What is revenue?

Revenue is actually known to be the general or total income that an organization or a firm makes from sales of their goods and services. Revenue made helps to ascertain how the company is fairing in terms of sales and customer retention.

We see here that it is true that revenue is recorded whenever services have performed and the service provider has received the payment.

Learn more about revenue on https://brainly.com/question/24280609

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