On December 31, 2014, the Balance in Pinnacle Exploration Company's

question 78

Multiple Choice

On December 31, 2014, the balance in Pinnacle Exploration Company's Unearned Revenue account was a credit of $8,000. In January, 2015, the company received an advance payment of $14,000 from a new customer for services to be performed. By January 31, adjustments had been made to recognize $7,000 of the revenue which had been earned during January. What was the balance in Unearned Revenue on January 31, 2015?

• A)$7,000 credit
• B)$14,000 debit
• C)$8,000 credit
• D)$15,000 credit

Recognize the value of conceptual knowledge for leaders.

Identify the roles of mentoring and shadowing in leadership development.

Understand the significance of leadership succession and its emotional impacts.

Appreciate the importance of challenging experiences and cross-functional teams in developing leadership skills.

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Definitions:

Expectation-States Theory

A social theory that explains how individuals' expectations in a group setting influence the dynamics of status and influence within the group.

Status Characteristics

Attributes or qualities that influence an individual's standing or prestige within a social hierarchy, affecting interactions and perceptions.

Ascribed

A status or attribute assigned at birth or assumed involuntarily later in life, not based on individual merit or achievement.

Foot-In-The-Door Technique

A compliance method where persuading someone to agree to a small request increases the likelihood of agreement to a larger request later.