A Business Receives $40,000 for Services That It Will Perform

question 131

Multiple Choice

A business receives $40,000 for services that it will perform over the next four months.Which of the following accounts is credited?

• A) Cash
• B) Accounts Payable
• C) Service Revenue
• D) Unearned Revenue

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Definitions:

First Marriages

The initial legally or socially sanctioned union between two individuals as spouses.

Stable

Characterized by consistency, reliability, and a lack of significant change or volatility over time.

Normative Life Events

In the timing-of-events model, commonly expected life experiences that occur at customary times.

Social Clocks

Societal expectations regarding the appropriate timing for major life milestones, such as education, marriage, parenthood, and retirement.