What Would Be the Account Balance in the Revenue Ledger

question 41

Multiple Choice

What would be the account balance in the revenue ledger account after the following transactions?
$\begin{array}{|l|l|}\hline \text { Performed services and left a bill } & \$ 4,200 \\\hline \text { Performed services and collected immediately } & \$ 3,500 \\\hline \text { Performed services and billed customer } & \$ 2,200 \\\hline \text { Performed services on account } & \$ 6,000 \\\hline \text { Received partial payment on account } & \$ 1,500\\\hline\end{array}$

• A)$17,400 Credit
• B)$14,400 Credit
• C)$14,400 Debit
• D)$15,900 Credit
• E)$15,900 Debit

Evaluate legal principles related to the duty of third parties to take affirmative action to prevent harm.

Understand contributory negligence and the doctrine of last clear chance in the context of negligence law.

Comprehend the objective nature of the reasonable person standard in determining negligence.

Recognize the rationale and implications of different standards of care applicable to various categories of individuals in negligence cases.

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Definitions:

Break-Even Point

The point at which total costs and total revenues are equal, meaning a business is not making a profit but also not incurring a loss.

Margin of Safety

The difference between actual or projected sales and the break-even sales level, used to assess risk and financial stability.

Variable Costs

Financial outlays that adjust based on the quantity of products made or the scale of sales transactions.

Fixed Costs

Business expenses that do not change in proportion to the level of goods or services that a company produces over a short term.