Julie Lambert Has a Large Consulting Practice

question 2

Multiple Choice

Julie Lambert has a large consulting practice.New clients are required to pay one-half of the consulting fees up front.The balance is paid at the conclusion of the consultation.Lambert's recording of the cash received at the end of the engagement includes a(n)

• A)Increase to Cash and an increase to Unearned Service Revenue.
• B)Increase to Cash a decrease to Unearned Service Revenue and an increase to Service Revenue.
• C)Increase to Prepaid Service Revenue and an increase Service Revenue.
• D)No action is required when the engagement is concluded.

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Definitions:

Critical Legal Studies

A school of thought that challenges and seeks to change mainstream legal practices and jurisprudence, focusing on social power dynamics, inequalities, and the arbitrary nature of laws.

Political Calculation

The process of making decisions within the political realm based on strategic considerations of gain and loss.

Class Biases

Prejudices or discriminations based on social or economic class divisions within society.

Treaties

Formal agreements between sovereign states or international organizations, binding in international law.