A Business Collects Cash from a Customer for Services That

question 155

Multiple Choice

A business collects cash from a customer for services that were performed one month earlier.Which of the following accounts is credited?

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

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Definitions:

Constant

A fixed value that does not change in mathematical equations or in the analysis of data.

Age

A measure of the time someone or something has existed, typically expressed in years.

Cause-and-Effect

A relationship where one event (the cause) leads to the occurrence of another event (the effect).

Lurking Variable

A variable that is not directly studied yet influences the relationship between the independent and dependent variables under investigation.