Which of the Following Accounts Would Appear in the Income

question 64

Multiple Choice

Which of the following accounts would appear in the income statement credit column?

• A)Service Revenue
• B)Prepaid Insurance
• C)Unearned Service Revenue
• D)Depreciation Expense

---

Definitions:

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, often referred to as the "I knew it all along" effect.

Misinformation Effect

The tendency of misleading information presented after an event to alter the memories of the event itself.

Loftus

Refers to Elizabeth Loftus, a cognitive psychologist best known for her work on the malleability of human memory and the misinformation effect.

Slide Presentation

A collection of slides created using software like PowerPoint, designed to convey information visually during a presentation.