asked 153k views
0 votes
In 2024, DFS Medical Supply collected rent revenue for ______ tenant occupancy?

1) 2023
2) 2024
3) 2025
4) 2026

asked
User Flov
by
8.0k points

1 Answer

5 votes

Final answer:

DFS Medical Supply collected rent revenue in 2024 for the year it provided tenant occupancy, which is 2024, following the revenue recognition principle.

Step-by-step explanation:

DFS Medical Supply collected rent revenue for tenant occupancy in the year that corresponds with when the service (occupancy) was provided. According to the principle of revenue recognition in accounting, revenues are recognized when they are earned, regardless of when the money is actually received. Therefore, if DFS Medical Supply is collecting rent in 2024 for tenant occupancy, it means they are earning that revenue in 2024. Hence, the correct answer is option 2) 2024.

answered
User Reta
by
7.6k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.