When a Company Performs a Service but Has Not Yet

question 195

Multiple Choice

When a company performs a service but has not yet received payment, it

• A)debits Service Revenue and credits Accounts Receivable.
• B)debits Accounts Receivable and credits Service Revenue.
• C)debits Service Revenue and credits Accounts Payable.
• D)makes no entry until cash is received.

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Definitions:

Hydrophilic

Denoting the property of attracting or associating with water molecules, possessed by polar molecules and ions; the opposite of hydrophobic.

Branching Polymer

A type of polymer where the molecule structure branches off from the main chain, resulting in a three-dimensional network.

Carbohydrate

Organic compounds made up of carbon, hydrogen, and oxygen that are a major source of energy in the diet of animals, including sugars, starches, and cellulose.

Nucleic Acids

are biopolymers essential for all known forms of life, including DNA and RNA, which carry genetic information and play roles in protein synthesis.