Julie Lambert Has a Large Consulting Practice

question 159

Multiple Choice

Julie Lambert 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 Lambert account for the cash received at the end of the engagement?

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

---

Definitions:

System Information

Data and details regarding the hardware and software environment of a computing device.

Memory Diagnostics

Tools or tests used to check and diagnose problems with computer memory (RAM), ensuring it's functioning correctly.

Task Manager

A Windows-based utility that displays memory and processor usage data and also displays currently loaded applications as well as currently running processes.

Device Manager

A Windows system utility that displays all installed hardware devices and allows users to manage their drivers and properties.