Robert Rogers,CPA Performed Accounting Services for a Client in December

question 61

Multiple Choice

Robert Rogers,CPA performed accounting services for a client in December.A bill was mailed to the client on December 30.Roberts received a check in the mail on January 5.The revenue principle would require that which of the following accounts appear on the balance sheet for December 31?

• A) Prepaid expense
• B) Accounts receivable
• C) Unearned revenue
• D) Accounts payable

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Definitions:

Maslow

Refers to Abraham Maslow, a psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Drivers

Key factors or elements that contribute to the progression or success of something.

Productivity

The efficiency at which products or services are created and delivered, often measured by the output per unit of input.

Performance

Refers to the effectiveness and efficiency of an action or behavior in achieving objectives or goals.