Patricia Event Planning Service Collects Fees from Their Customers in Advance.On

question 5

Multiple Choice

Patricia Event Planning Service collects fees from their customers in advance.On 1 January 2016,the balance of her Unearned revenue account had a balance of $5000 (Cr. ) .During January and February,she collected $3000 and $700 as advance fees.During the two-month period,she rendered services of $7500 .What is the balance in Unearned revenue at the end of February?

• A)Debit balance of $1200
• B)Credit balance of $1200
• C)Debit balance of $5000
• D)Credit balance of $5000

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Definitions:

Emotional Theory

A conceptual framework that attempts to explain how emotions are experienced, how they are elicited, and how they influence behavior.

Innate Reactions

Natural, instinctual responses that an individual is born with, which are not learned through experience.

Evolutionary Theory

An explanation for the diversity of organisms on Earth, proposing that they have changed over generations through a process of natural selection.

Behavioural Theory

A theory focusing on observable behaviors, emphasizing the learning experiences that mold human actions.