An Accountant Who Uses the Accrual Basis of Accounting Receives

question 81

Multiple Choice

An accountant who uses the accrual basis of accounting receives cash in advance for services yet to be performed.The entry to record this transaction will include a credit to which of the following accounts?

• A) Unearned Service Revenue
• B) Prepaid Expense
• C) Unearned Expense
• D) Service Revenue

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Definitions:

Births

The act or process of bearing or bringing forth offspring.

United States

A country located in North America, composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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Institutions providing medical and surgical treatment and nursing care for sick or injured people.

Ninety-nine Percent

A term often used to represent the majority of a population, typically in discussions of economic disparity.