SAP's rapid implementation methodology is called ASAP

If a company fails to adjust for accrued revenues:

A) liabilities will be understated and revenues will be understated. B) equity will be overstated and revenue will be understated. C) assets will be understated and revenues will be understated. D) liabilities will be overstated and revenues will be understated. E) assets will be overstated and revenues will be understated.

Which of the following is true of service companies?

A) All costs of service companies are product costs. B) Service companies modify and resell products they buy from manufacturers. C) Revenues of service companies are only recorded on cash receipt. D) Service companies carry no inventories of products for sale.