Joe Received $5,000 in Advance for Renting Part of His

question 5

Multiple Choice

Joe received $5,000 in advance for renting part of his building.What is the entry to record the receipt of payment?

• A)Debit Cash; credit Rent Expense
• B)Debit Cash; credit Prepaid Rent
• C)Debit Cash; credit Unearned Rent
• D)Debit Cash; credit Rental Income

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Definitions:

Extrinsic Motivation

Motivation that is driven by external rewards, such as money, praise, or recognition, rather than internal satisfaction.

Self-Determination

The understanding of skills, knowledge, and strengths that enable a person to make choices and initiate work tasks.

Intrinsic Motivation

Motivation that is driven by an interest or enjoyment in the task itself, rather than external pressures or rewards.

Need for Competence

The desire to interact effectively with the environment, to master tasks, and to achieve proficiency.