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When payment is received before services have been performed, a) revenue is recorded because the payment has been received. b) revenue is accrued until the service has been performed. c) a liability is recorded because there is an obligation to perform services in the future. d) a liability is recorded unless the services will be performed within the next operating cycle..

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When payment is received before services have been performed, a) revenue is recorded because the payment has been received. b) revenue is accrued until the service has been performed. c) a liability is recorded because there is an obligation to perform services in the future. d) a liability is recorded unless the services will be performed within the next operating cycle.

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