A Customer's Promise to Pay in the Future for Services

question 94

Multiple Choice

A customer's promise to pay in the future for services or goods sold is called a(n) ________.

• A) Accounts Receivable
• B) Accounts Payable
• C) Unearned Revenue
• D) Notes Payable

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Definitions:

Descriptive

Pertaining to the act of describing or providing detailed information about characteristics, events, or phenomena.

Correlational

Pertaining to a research method that examines the relationship between variables without inferring a causational link.

Experimental

Relating to a scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.

Structuralism

A school of thought in psychology and sociology that emphasizes analyzing and understanding the structure of human thought, society, and culture by breaking them down into their simplest components.