At January 1,Smith Has a Beginning Balance in Unearned Revenue

question 145

True/False

At January 1,Smith has a beginning balance in Unearned revenue of $1,000.During January,he earns $800 of that amount.He also collects $4,000 from a new customer for services to be rendered the following month.As of the end of January,the Unearned revenue account had a balance of $4,800.

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Definitions:

Child Online Protection Act

Legislation aimed at restricting access to online materials deemed harmful to minors, with measures to ensure child safety on the internet.

Communications Decency Act

A United States federal law enacted in 1996 to regulate and reduce indecency and obscenity on the Internet but faced criticism and legal challenges regarding free speech.

U.S. Supreme Court

The highest federal court in the United States, consisting of nine Justices and holding ultimate appellate jurisdiction over all federal and state court cases involving issues of federal law.

Sexually Explicit Material

Media content that graphically depicts sexual activities or genitals, aimed at provoking sexual excitement.