The Journal Entry to Record an Exchange of Assets Would

question 65

Multiple Choice

The journal entry to record an exchange of assets would include

• A) a debit to Cash and a credit to Fees Earned.
• B) a debit to Supplies and a credit to Accounts Payable.
• C) a debit to Cash and a credit to Accounts Receivable.
• D) a debit to Fees Earned and a credit to Accounts Receivable.

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Definitions:

Personalized Power

Power wielded for personal gain or satisfaction rather than for the benefit of others or the organization, characterized by self-centered behavior and manipulation.

E-to-P Expectancy

The belief that exerting a certain amount of effort will lead to a specific level of performance.

Employee Motivation

The level of enthusiasm, fidelity, and ingenuity that staff members of a corporation show in their job functions.

Four-Drive Theory

A motivational theory that identifies four basic drives—the drive to acquire, bond, comprehend, and defend—that govern human behavior.