LLane Received $12,000 from a Tenant on December 1 for Four

question 75

Multiple Choice

L.Lane received $12,000 from a tenant on December 1 for four months' rent of an office.This rent was for December,January,February,and March.If Lane debited Cash and credited Unearned Rental Income for $12,000 on December 1,what necessary adjustment would be made on December 31?

• A) Unearned Rental Income .............3,000
• Rental Income ....................3,000
• B) Rental Income ......................3,000
• Unearned Rental Income ...........3,000
• C) Unearned Rental Income .............9,000
• Rental Income ....................9,000
• D) Rental Income ......................9,000
• Unearned Rental Income ...........9,000

Differentiate between primary and secondary stakeholders and their relevance to the firm.

Explore corporate governance, including its ethical concerns and the interaction model.

Understand the different functions and types of control within organizations.

Recognize the role of objectives in measuring actual performance.

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