Which of the Following Entries Records the Receipt of Cash

question 48

Multiple Choice

Which of the following entries records the receipt of cash from clients on account?

• A) Accounts Payable, debit; Fees Earned, credit
• B) Accounts Receivable, debit; Fees Earned, credit
• C) Accounts Receivable, debit; Cash, credit
• D) Cash, debit; Accounts Receivable, credit

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Definitions:

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Consumer Confidence

A measure of how optimistic or pessimistic consumers are about their financial situation and the overall state of the economy.

Social Stratification

A system by which a society ranks categories of people in a hierarchy, based on factors like wealth, income, race, education, and power.

Social Class

A division of a society based on social and economic status.