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:

Volcanic Eruptions

The violent expulsion of magma, gases, and ash from a volcano, affecting local and global environments.

Global Warming

The long-term rise in Earth's average surface temperatures, primarily due to human activities like burning fossil fuels.

Keystone Niche

A critical role that an organism plays in maintaining the structure and integrity of an ecosystem, often disproportionate to its abundance.

Specialist Niche

A narrowly defined role or position occupied by an organism or a business within an ecosystem or market, respectively, requiring specific adaptations or specialized skills.