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An architect commenced business at the start of the financial year

Accounting

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An architect commenced business at the start of the financial year. During the year she invoiced clients a total of $250,000. At year end she was owed $20,000 by clients. On an accrual basis, sales revenue for year totalt + Which statement is correct? a. A provision is a type of current asse- b. The current portion of a loan is recorded as a current asset- c. A commitment is an amount contracted for and incurred at balance date d. A contingent liability is a possible but uncertain obligation at balance date + of an entity. Dividends are of earnings that have been made to a. reports, owners b. liabilities, business c. affiliations, resources d. distributions, owners