Vick Vickers Has a Large Consulting Practice

question 210

Multiple Choice

Vick Vickers has a large consulting practice. New clients are required to pay one-half of the consulting fees up front. The balance is paid at the conclusion of the consultation. How does Vickers account for the cash received at the end of the engagement?

• A) Cash Unearned Service Revenue
• B) Cash Service Revenue
• C) Prepaid Service Fees Service Revenue
• D) No entry is required when the engagement is concluded.

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Definitions:

Token Economy

A form of behavior modification that uses tokens or symbols as rewards for performing desired behaviors, which can later be exchanged for various privileges or treats.

Operant Conditioning

A learning process through which the strength of behavior is modified by reinforcement or punishment.

Token Economy

A behavioral intervention strategy where desired behaviors are rewarded with tokens, which can be exchanged for various rewards.

Flooding

Flooding is an exposure therapy technique used in psychology to help individuals overcome phobias and anxiety disorders by exposing them to their fear triggers in a controlled environment until the fear response diminishes.