On October 31 of the Current Year, a Contract Was

question 22

Multiple Choice

On October 31 of the current year, a contract was signed and a cheque received for services to be performed by October 31 of the following year. The Unearned Service Revenue account was credited for $4,800. Assuming services were performed evenly during the remainder of the year, the adjusting entry on December 31 will involve a:

• A) credit to Service Revenue $800
• B) credit to Unearned Service Revenue $800
• C) debit to Unearned Service Revenue $4,000
• D) credit to Service Revenue for $4,000

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Definitions:

Followers

Individuals who look to a leader for guidance, direction, and inspiration in various contexts.

Behavioral Model

A framework for understanding and predicting individual behavior through analysis of observable actions and external stimuli.

Initiating Structure

A leadership behavior characterized by clearly defining roles, setting tasks, and establishing channels of communication for achieving objectives.

Consideration Behaviors

The actions or approaches taken by individuals or leaders that show attention to and care for the feelings and needs of others.