A Business Receives $40,000 for Services That It Will Perform

question 131

Multiple Choice

A business receives $40,000 for services that it will perform over the next four months.Which of the following accounts is credited?

• A) Cash
• B) Accounts Payable
• C) Service Revenue
• D) Unearned Revenue

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Definitions:

Monitoring

Monitoring involves the continuous observation, checking, and systematic assessment of processes or activities over a period of time for the purpose of ensuring compliance with standards or progress towards objectives.

Yelp Effect

The impact of user-generated online reviews (particularly on Yelp) on the reputations and business outcomes of establishments, especially restaurants and local services.

Physicians

Medical professionals who diagnose and treat illness, disease, and injuries.

Care

The provision of what is necessary for the health, welfare, maintenance, and protection of someone or something.