Foley Marketing Received $60000 from a Customer on January 2

question 70

Multiple Choice

Foley Marketing received $60000 from a customer on January 2 2022 to be on retainer for the next two years.The appropriate adjustment to recognize revenue at Foley's fiscal year-end on December 31 2022 would be:

• A)Decrease Unearned Revenue $30000 Increase Service Revenue $30000
• B)Decrease Service Revenue $30000 Increase Unearned Revenue $30000
• C)Decrease Service Revenue $30000 Decrease Cash $30000
• D)Decrease Unearned Revenue $30000 Decrease Cash $30000

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Definitions:

Family System

A concept in social science that views the family as an emotional, behavioral, and psychological unit that operates within a larger social system.

Neighborhood Role-Model

Individuals within a community who serve as positive examples for others, particularly younger members, through their actions or achievements.

Perceived Role

A perceived role is an individual's understanding or belief about the expectations and behaviors associated with their position or status within a particular context.

Executive Subsystem

A component of family systems theory referring to the management and decision-making processes within a family unit.