Clarion Corp invested cash in a 6-month certificate of deposit (CD) on November 1, 2015 . If Clarion Corp has an accounting period that ends on December 31, 2015, when should Clarion recognize interest revenue from the CD?

a. On December 31, 2015 only
b. On May 1, 2016 only
c. Both December 31, 2015 and May 31, 2016
d. On the date when its income tax return is filed

c

Business

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