Which of the Following Is an Example of a Commitment

question 45

Multiple Choice

Which of the following is an example of a commitment device?

• A)Buying yourself an ice cream cone as a reward after going to the gym.
• B)Putting a reminder on the cookie jar that you want to lose weight.
• C)Making an agreement with friends to put $5 into a swear jar each time someone swears.
• D)All of these are examples of commitment devices.

Grasp the legal and ethical considerations surrounding software piracy and licensing.

Understand the key characteristics and differences between various types of software.

Recognize the importance of software compliance and the legal aspects of software usage.

Identify different types of software used for specific tasks, such as communication, personal information management, and web authoring.

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Definitions:

Prepaid Insurance

Prepaid insurance is the portion of insurance premiums that has been paid in advance for coverage over future periods, and is classified as a current asset on the balance sheet.

Unearned Revenue

Money received by a business for services or products yet to be delivered or provided; considered a liability until the service or product is delivered.

Utilities Expense

The cost incurred by a business for the consumption of utilities services like electricity, gas, water, and sewage.

Accounts Payable

Liability accounts representing the amounts owed by a company to its suppliers or creditors for goods and services received.