The Entry to Record Completing a Financial Lecture and Immediately $\begin{array}{|l|l|}\hline \text { Cash } & 500 \\\hline \text { Lecture Fees } & 500\\\hline \end{array}$

question 18

Multiple Choice

The entry to record completing a financial lecture and immediately collecting payment from customers would be:

• A) \(\begin{array}{|l|l|}
• \hline \text { Cash } & 500 \\
• \hline \text { Lecture Fees } & 500\\
• \hline
• \end{array}\)
• B) \(\begin{array}{|l|l|}
• \hline \text { Cash } & 500 \\
• \hline \text { Accounts Payable } & 500\\
• \hline
• \end{array}\)
• C) \(\begin{array}{|l|l|}
• \hline \text { Lecture Fees } & 500 \\
• \hline \text { Cash } & 500\\
• \hline
• \end{array}\)
• D) \(\begin{array}{|l|l|l|}
• \hline \text { Lecture Fees } & 500 \\
• \hline \text { Accounts Payable } & 500\\
• \hline
• \end{array}\)

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Definitions:

Asset's Value

The worth of an asset, which can be determined by factors such as market value, book value, or utility.

Useful Life

is the estimated duration of time an asset is expected to remain productive for the entity, used in calculating depreciation and amortization.

Pattern of Usage

Refers to the habitual ways in which a service or product is utilized over time by consumers or within an organization.

Site Preparation

The process of making a piece of land suitable for construction or other specific purposes, including clearing, grading, and installing foundational infrastructure.