Consider the following transactions.
(i)Collect $100 000 from accounts receivable.
(ii)Receive $80 000 from a client for work to be done in the next accounting period.
(iii)Inventory (costing $50 000)sold on credit for $90 000.
(iv)Shares issued for $1 million.
Which of the above transactions do NOT increase revenue?
A) (i)and (ii)only
B) (ii)and (iii)only
C) (i)and (iii)only
D) (i),(ii)and (iv).

Question

Consider the following transactions. 
(i)Collect $100 000 from accounts receivable.
(ii)Receive $80 000 from a client for work to be done in the next accounting period.
(iii)Inventory (costing $50 000)sold on credit for $90 000.
(iv)Shares issued for $1 million.
Which of the above transactions do NOT increase revenue?
A) (i)and (ii)only
B) (ii)and (iii)only
C) (i)and (iii)only
D) (i),(ii)and (iv).

Quizplus · Accepted Answer

The Answer of Consider the following transactions. 
(i)Collect $100 000 from accounts receivable.
(ii)Receive $80 000 from a client for work to be done in the next accounting period.
(iii)Inventory (costing $50 000)sold on credit for $90 000.
(iv)Shares issued for $1 million.
Which of the above transactions do NOT increase revenue?
A) (i)and (ii)only
B) (ii)and (iii)only
C) (i)and (iii)only
D) (i),(ii)and (iv).

Consider the Following Transactions