Which of the Following Accounts Would Appear in the Balance

question 16

Multiple Choice

Which of the following accounts would appear in the balance sheet credit column?

• A)Prepaid Insurance
• B)Buildings
• C)Unearned Service Revenue
• D)Service Revenue

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Definitions:

Sarbanes-Oxley 404

A provision of the Sarbanes-Oxley Act that requires publicly traded companies to have an internal control report in their annual reports, aiming to enhance the accuracy of corporate disclosures.

Internal Controls

Mechanisms and procedures implemented within an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Ethics Audit

A systematic evaluation of an organization's moral framework, practices, and culture to identify strengths and areas for improvement in promoting ethical behavior.

Differential Association

A theory proposing that individuals learn values, attitudes, techniques, and motives for criminal behavior through interaction with others.