Which of the Following Entries Records the Receipt of Cash

question 48

Multiple Choice

Which of the following entries records the receipt of cash from clients on account?

• A) Accounts Payable, debit; Fees Earned, credit
• B) Accounts Receivable, debit; Fees Earned, credit
• C) Accounts Receivable, debit; Cash, credit
• D) Cash, debit; Accounts Receivable, credit

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Definitions:

Risky Venture

A business or investment undertaking that has a significant degree of uncertainty or potential for financial loss as well as gain.

Rainfall Patterns

Variations in the amount and timing of rainfall over a particular area, significantly impacting agriculture and water supply.

Expected Yield

The anticipated return on an investment, measured in income or value increase.

Total Utility

The complete satisfaction obtained from consuming a given amount of goods or services.