Use the Following Information for Questions

question 14

Multiple Choice

Use the following information for questions
During a recent week, Cairns Consulting received $15,000 cash from clients for services performed with a total value of $50,000.The balance is to be received within 30 days.
-The effect on the balance sheet equation for this transaction would be:

• A)+ $15,000 cash = - $35,000 accounts payable + $50,000 retained earnings
• B)+ $15,000 cash - $35,000 accounts receivable = $50,000 retained earnings
• C)+ $15,000 cash + $35,000 accounts receivable = + $50,000 retained earnings
• D)+ $15,000 cash = + $15,000 retained earnings

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Definitions:

Means to Achieve

Methods or strategies utilized to accomplish a specific goal or objective.

Carol Gilligan

An American feminist, ethicist, and psychologist best known for her work on ethical relationships and gender differences in moral reasoning.

Personal Moral Responsibility

The obligation of an individual to act in accordance with ethical principles and to be accountable for their own actions.

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Individuals who believe that the pursuit of pleasure is the most important goal of human life.