Kerry Works as a Messenger for a Business

question 199

Multiple Choice

Kerry works as a messenger for a business. His job is to carry messages between different buildings. Kerry's role for the company is similar to the function of ______________ for a neuron.

• A) neurotransmitters
• B) receptor sites
• C) dendrites
• D) somas

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Definitions:

Unearned Service Revenue

Income received in advance for services that have not yet been performed, considered a liability until the service is delivered.

Adjusting Entries

Adjustments in accounting records at the end of a period to correctly distribute incomes and costs to the period they pertain to.

Prepaid Rent

Payments made in advance for rent, recorded as an asset on the balance sheet until it is consumed over time and moved to expense.

Prepaid Expenses

Payments made in advance for goods or services, which are recorded as an asset until they are consumed or used.