A Dance Studio Accepts $1,500 to Provide a Series of Dance

question 96

Multiple Choice

A dance studio accepts $1,500 to provide a series of dance lessons to a youth group during the month of July. The studio decides to record the revenue in July. The studio decided to record the July expenses of rent, utilities and salaries in August, when it pays for them. One or both of these decisions:

• A) violate the matching principle.
• B) are an example of accrual accounting.
• C) violate the revenue principle.
• D) violate the accounting equation.

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Definitions:

Class

A blueprint for creating objects in object-oriented programming, defining the properties and behaviors of those objects.

Member Access Operator

In programming, an operator that accesses the property or method of an object or structure.

System.exit(0)

A method in Java that terminates the currently running Java virtual machine by initiating its shutdown sequence.

Garbage Collector

A component of the runtime environment responsible for automatically freeing memory by collecting and disposing objects that are no longer in use.