On January 1,Acme College Received $1,200,000 in Unearned Tuition Revenue

question 182

Multiple Choice

On January 1,Acme College received $1,200,000 in Unearned Tuition Revenue from its students for the spring semester,which spans four months beginning on January 2.What amount of tuition revenue should the college recognize on January 31?

• A)$300,000
• B)$600,000
• C)$800,000
• D)$900,000
• E)$1,200,000

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Definitions:

Ethical Standards

Guidelines or principles that govern acceptable behavior and decision-making, based on moral values and societal norms.

Working Conditions

The environment and all existing circumstances affecting labor in the workplace, including job hours, physical aspects, legal rights and responsibilities.

Forced Labour

Work that individuals are compelled to do against their will under threat of punishment or some form of penalty.

Ethical Dilemma

Arises when action must be taken but there is no clear ‘ethically right’ option.