When Services Are Rendered but Payment Is Not Made, Which

question 2

Multiple Choice

When services are rendered but payment is not made, which account would be increased?

• A) Revenue
• B) Expense
• C) Accounts Payable
• D) Cash

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, measuring the benefit to consumers.

Tax

A compulsory financial charge imposed by a government on individuals or entities to fund public expenditures.

Tax Per Unit

A specific amount of tax imposed on each unit of a product or service, often used to regulate consumption or raise government revenue.

Buyers Pay

Buyers pay refers to the amount of money that consumers are required to spend to purchase goods or services.