Match the Type of Account (A Through E) with the Business

question 97

Multiple Choice

Match the type of account (a through e) with the business transactions that follow.
-A contract to provide tutoring services beginning next month was signed.

• A)Prepaid expense
• B)Accrued expense
• C)Unearned revenue
• D)Accrued revenue
• E)None of these choices

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Definitions:

Collateral

Property or assets that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid.

Proceeds

Money or other benefits received from a sale, insurance policy, or other transactions.

Bayer CropScience

A division of Bayer AG, specializing in the research, development, and marketing of agricultural products, including seeds and pest management solutions.

Genetically Altered Rice

A type of rice that has had its DNA modified using genetic engineering techniques to achieve desired traits such as improved yield or resistance to pests.