Yelena Company Received Cash from a Customer in Advance of Providing

question 77

Multiple Choice

Yelena Company received cash from a customer in advance of providing the service to the customer.Which of the following does not accurately describe the impact on the financial statements when Yelena later provides the service?

• A)Liabilities are decreased.
• B)Operating income increases.
• C)Retained earnings increases.
• D)Assets are increased.

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Definitions:

Texas

A state located in the southern region of the United States, known for its significant contributions to American history, culture, and economy.

Slaves

individuals who are forcibly held and made to work without freedom or personal rights.

Mid 19th Century

Refers to the period from 1850 to 1865, a time of significant political, social, and technological changes, including the industrial revolution and the American Civil War.

Punishment

The imposition of a penalty as retribution for an offense, often involving pain, loss, or confinement.