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:

Heuristics

Simplified strategies or mental shortcuts used to make decisions or solve problems quickly.

Fixations

Persistent focusing of psychological energy on a particular stage of psychosexual development, according to Freudian theory.

Simple Thinking

The process of reasoning or problem-solving in a straightforward, uncomplicated manner, often involving direct observation and practicality.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.