Something Is Valuable If

question 73

Multiple Choice

Something is valuable if:

• A)a reasonable amount of people want it.
• B)it is a good or a service.
• C)someone wants it.
• D)was made using resources.

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Definitions:

Journal Entries

Financial transaction records written or typed into the journal, detailing the accounts affected and in what way.

Adjusting Entries

Entries made in the accounting journals to adjust income and expense accounts so that they comply with the accrual concept of accounting.

Note Payable

A written promise to pay a certain amount of money on demand or at a fixed or determinable future time.

Unearned Fees

Income received for services that have not yet been performed or delivered.