In October,cash Is Received in Advance of Rendering Services

question 48

Multiple Choice

In October,cash is received in advance of rendering services.Assuming that half of the services have been performed by December 31,the year-end adjustment would:

• A)decrease Unearned Service Revenue and decrease Cash.
• B)increase Accounts Receivable and increase Service Revenue.
• C)increase Cash and increase Service Revenue.
• D)decrease Unearned Service Revenue and increase Service Revenue.

Distinguish between public and private savings, and their contribution to national saving.

Understand the components and calculations involved in determining the quantity of loanable funds in a closed economy.

Analyze the effects of changes in interest rates on the supply and demand for loanable funds.

Identify the factors influencing private and public saving within the closed and open economy models.

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Definitions:

Diversion Program

In some jurisdictions, an alternative to prosecution that is offered to certain felony suspects to deter them from future unlawful acts.

Felony Suspects

Individuals suspected of committing a serious crime, classified as a felony, which is typically punishable by imprisonment or death.

Procedural Steps

A series of actions or operations conducted in a proper sequence to achieve a legal or regulatory outcome.

Criminal Case

Legal proceedings brought by the state against an individual or entity accused of committing a crime.