On January 1,Unearned Revenue of Commercial Plumbing Services Company Had

question 215

True/False

On January 1,Unearned Revenue of Commercial Plumbing Services Company had a beginning balance of $1,300.During January,the company earned $1,000 of the deferred revenue.The company also collected $3,000 from a new customer for services to be performed the following month.At the end of January,the Unearned Revenue account should have a balance of $3,000.

---

Definitions:

Self-Fulfillment Needs

The highest level in Maslow's hierarchy of needs, focusing on personal growth, achieving one's potential, and self-actualization.

Financial Incentives

Monetary rewards offered to influence behavior or outcomes, often used to motivate employees or align their efforts with organizational goals.

High Achievers

Individuals who consistently reach or exceed set goals due to their drive, skills, and determination.

McClelland's Learned Needs

A theory that suggests that needs for achievement, power, and affiliation are acquired over time and influence motivation and behavior in the workplace.