Enoch,IncBegan Operations on July 1,2011

question 8

Multiple Choice

Enoch,Inc.began operations on July 1,2011.On August 1,it received $12,000 in advance for services to be performed evenly over the next 12 months.How much of this revenue should the company report on its income statement for the MONTH ended August 31,2011?

• A)$12,000
• B)$1,000
• C)$11,000
• D)$5,000

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Definitions:

Sense Of Dethronement

Feelings of loss or displacement often experienced by a child upon the arrival of a new sibling.

First-borns

Refers to individuals who are the eldest child in their families, often discussed in the context of their typical personality traits, leadership qualities, and responsibilities.

Father's Role

The social and emotional responsibilities and functions that a father has in the upbringing and development of their children.

Social Interest

The concept in psychology that refers to an individual's inclination towards being cooperative and contributing to the welfare of the community.