A Tax Service Prepared Tax Returns for Twenty Clients at $200

question 137

Multiple Choice

A tax service prepared tax returns for twenty clients at $200 each. By the end of June, the service had collected from eight clients. Under the accrual basis, what amounts will be reported on the income statement and the statement of cash flows for June? Income Statement Statement of Cash Flows

• A)$4,000 $1,600
• B)$4,000 $4,000
• C)$2,400 $2,400
• D)$1,600 $1,600

---

Definitions:

Skinner

B.F. Skinner, a renowned psychologist known for his work in behaviorism and for developing the theory of operant conditioning.

Psychoanalytic Theory

A psychological perspective pioneered by Freud that focuses on unconscious processes and childhood experiences affecting personality and behavior.

Freud

Sigmund Freud, an Austrian neurologist who founded psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Psychology

This is the scientific study of the mind and behavior, encompassing various aspects of conscious and unconscious experience as well as thought processes.