Unearned Service Revenue Has a Balance That Is $2,800 Less

question 17

Multiple Choice

Unearned service revenue has a balance that is $2,800 less in the worksheet's balance sheet credit column than in the worksheet's trial balance credit column. From this data, it can be determined that:

• A)unearned service revenue was credited for $2,800 in the adjustments columns.
• B)service revenue was debited for $2,800 in the adjustments columns.
• C)service revenue was credited for $2,800 in the adjustments columns.
• D)unearned service revenue was credited for $2,800 in the adjusted trial balance columns.

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Definitions:

Resource Prices

Refer to the market values assigned to natural or human-made materials that are used in the production of goods and services.

Inefficient Use

Utilization of resources in a way that is not optimal or does not maximize the potential outcome or benefit.

Economies of Scale

The economic benefits that companies gain from their size of operations, usually with the expense for each produced unit going down as the production volume goes up because fixed expenses are distributed across a larger number of units.

Range of Output

The spectrum of production output levels within a manufacturing or production process, from minimum to maximum, based on capacity, demand, and resource availability.