A Business Renders Services to a Customer for $16,000 on Account.Which

question 147

Multiple Choice

A business renders services to a customer for $16,000 on account.Which account is credited?

• A) Cash
• B) Accounts receivable
• C) Service revenue
• D) Accounts payable

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Definitions:

Qualitative Demand Forecasting

The process of predicting future demand for a product or service based on non-quantitative information such as expert opinions and market trends.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize ideas.

Ratio Analysis

A tool used in financial analysis to assess a company's performance or financial condition through the relationship between two numerical values from its financial statements.

Operational Index

A statistical measure used to gauge the performance and efficiency of business operations.