Infrastructure and country-of-origin effects are the primary determinants of whether an individual country is a suitable location for a facility

When does a company account for revenue if it uses cash basis accounting?

A) when services are performed, even though cash may be received at a later date B) when cash is received after the service is performed C) when the services are being performed D) when cash is received, either prior to, at the time of, or after the services are performed

The contra-revenue accounts, Sales Returns and Allowances and Sales Discounts, should be closed by crediting these accounts and debiting Income Summary for each account

Indicate whether the statement is true or false.