Lynn and Jan Operate a Bed and Breakfast on the Coast

question 154

Multiple Choice

Lynn and Jan operate a bed and breakfast on the coast of Alabama.As customers make reservations they are required to pay cash in advance equal to one-half of the rate for their stay.On January 21 they took a reservation for a booking in May 27-29 with a total cost of $900.Use the following tabular analysis to record the cash receipt on that date:

• A)Increase Cash $450 and Unearned Revenue $450.
• B)Increase Cash $450 and Service Revenue $450.
• C)Increase Cash $450 increase Accounts Receivable $450 and increase Service Revenue $900.
• D)Increase Accounts Receivable $450 increase Cash $450 increase Service Revenue $450 and increase Unearned Revenue $450.

Understand the concept of social referencing in infancy and its significance in emotional and social development.

Explain how infants' experiences with caregivers influence their perception of the world and subsequent emotional development.

Understand the concept of abstractness and how to arrange concepts based on their level of abstractness.

Grasp the definition and implications of abstraction in classification.

---

Definitions:

Marginal Revenue

The boost in income derived from selling an extra unit of a good or service.

Maximizing Profits

The goal of increasing a company's earnings to the highest possible level through various strategies and operational improvements.

Total Profit

The financial gain made by a business after subtracting all expenses, taxes, and costs from total revenues.

Profit-Maximizing

A strategy in which a firm seeks to achieve the highest possible profit from its operations, often by adjusting output or prices.