[The Following Information Applies to the Questions Displayed Below

question 93

Multiple Choice

[The following information applies to the questions displayed below.]
The Yankee Corporation has recently begun to accept credit cards. On July 7, Year 1, Yankee made a credit card sale of $600. The credit card company charges a fee of 3% for handling a credit card transaction.
-Which of the following correctly describes the effect of the collection of cash from the credit card company on the financial statements of Yankee Corporation?

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Endangered Species Act

A law enacted to protect critically endangered species from extinction as a consequence of economic growth and development untempered by adequate concern and conservation.

In Situ Conservation

Conservation methods that preserve species in their natural habitats to ensure biodiversity.

Endangered Species List

A register maintained by various organizations that catalogues animal and plant species considered to be at risk of extinction.

In Situ Conservation

Conservation methods that protect the genetic material of endangered species in their natural habitat, without moving them to new locations.