Gena's Cleaning Services Performs Services for Its Customers During March

question 89

Multiple Choice

Gena's Cleaning Services performs services for its customers during March. Payments for the March services are received in June. How does the transaction for the collection of cash from customers affect the accounting equation of Gena's Cleaning Services?

• A) Liabilities increase and assets increase.
• B) Total assets remain the same.
• C) Assets increase and revenues increase.
• D) Assets increase and equity decreases.

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Definitions:

Valproate

A medication commonly used to treat seizure disorders and bipolar disorder, and to prevent migraine headaches.

Antidepressant Medication

Drugs specifically designed to alleviate the symptoms of depression by adjusting the chemical imbalances in the brain.

Depression

A common and serious mood disorder characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in previously rewarding or enjoyable activities.

Reuptake Process

The mechanism in neurotransmission where a neurotransmitter is taken back into the neuron after it has been released into the synapse.