On January 1, Smith Had a Beginning Balance in Unearned

question 70

True/False

On January 1, Smith had a beginning balance in Unearned Revenue of $2,000. During January, he earned $1,000 of the unearned revenue. He also collected $6,000 from a new customer for services to be rendered the following month. At the end of January, the Unearned Revenue account had a balance of $6,000.

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Definitions:

Structural Strain Theory

A sociological theory that posits the disconnection between societal goals and the means available to achieve them creates social strain leading to deviant behavior.

Robert Merton

A sociologist famous for developing the strain theory, the concept of unintended consequences, and the terms "self-fulfilling prophecy" and "role model."

Deviant Behavior

Actions or behaviors that violate societal norms or expectations, often eliciting negative social responses.

Bunny Costume

A costume designed to resemble a bunny, often worn during celebrations like Easter, or for costume parties.