What Business Event Would Be Represented by a Journal Entry

question 3

Multiple Choice

What business event would be represented by a journal entry that shows a debit to cash of $500 and a credit to unearned revenue of $500?

• A) Cash has been paid out to a company that will rent the company space in the future.
• B) The company has provided services to a customer, and the cash account has been increased.
• C) Cash has been received by the company for services that have not yet been provided.
• D) The company has refunded money to a customer, because the company did not provide the services it promised.

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Definitions:

Cultural Competence

The ability to understand, appreciate, and interact effectively with people of different cultures and socio-economic backgrounds.

Core Values

Fundamental beliefs or guiding principles that dictate behavior and action within an organization or individual’s life.

Worldview

Worldview encompasses the fundamental cognitive orientation of an individual or society, including the entirety of the person's or group's knowledge and point of view on the world.

Hidden Stereotypes

Unacknowledged or unconscious biases that can influence perceptions and behavior towards certain groups of people.