Carrington & Co

question 147

Multiple Choice

Carrington & Co.rented office space to a tenant on January 31 and received a total of $9,000 for the first three months of rent.The amount was recorded as Rent Collected in Advance when received.Adjustments are recorded only at the end of every quarter.What effect does the adjustment at March 31 have on Carrington's net income for the quarter ending March 31?

• A)Increase by $9,000
• B)Decrease by $6,000
• C)Decrease by $3,000
• D)Increase by $6,000

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Definitions:

Behavioral Patterns

Repetitive activities, actions, or behaviors exhibited by individuals, often reflecting underlying psychological conditions or social influences.

Altruistic Behavior

Actions motivated by the desire to benefit others, often at a personal cost or without expecting personal gain.

Evolutionary Biology

A field of biology that studies the processes of evolution, such as natural selection and genetic drift, and the history of life on Earth.

Slow Life History

An evolutionary strategy characterized by longer development periods, later reproduction, and fewer offspring, focusing on the survival and quality of offspring rather than quantity.