On August 1,2016,Benjamin and Associates collected $18,000 in advance for legal services to be rendered for one year.Which of the following entries reflect the end-of-the-year adjustment to reflect revenue earned?
Definitions:
Centralized
An organizational structure where decision-making authority is concentrated at the top levels of management.
Departmentalization
The process of dividing an organization into different departments or units based on functions, products, or geographical locations for efficiency.
Empowering
Giving employees the authority, resources, and opportunity to make decisions and contribute to the organization’s success..
Hierarchical Levels
Hierarchical levels refer to the layered structure within organizations where positions and functions are ranked according to levels of importance and authority, from the top management to the lowest operational levels.
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