The Following Adjusting Journal Entry Does Not Include an Explanation

question 158

Multiple Choice

The following adjusting journal entry does not include an explanation. Select the best explanation for the entry.

• A) Record payment of fees earned.
• B) Record fees earned at the end of the month.
• C) Record fees that have not been earned at the end of the month.
• D) Record payment of fees to be earned.

---

Definitions:

Joint Ventures

A strategic alliance where two or more parties come together to undertake a specific business project or activity while sharing risks and rewards.

Business Plan

A formal document detailing a business's goals, strategies, target market, and financial forecasts.

Balanced Portfolio

An investment strategy involving holding a variety of assets classes, such as stocks, bonds, and cash, to reduce risk while aiming to achieve a reasonable return.

Earned Income

Revenue generated from the sale of goods or services by an organization or individual.