Which of the Following Accounts Would Appear in the Income

question 207

Multiple Choice

Which of the following accounts would appear in the income statement debit column of the worksheet?

• A) Unearned Revenue
• B) Service Revenue
• C) Depreciation Expense
• D) Prepaid Insurance

---

Definitions:

Foreign Markets

Markets outside a company’s home country where it can engage in trade, including exporting, importing, and producing goods or services.

Licensing

A business arrangement where one party allows another to use its trademark, patent, copyright, or technology in exchange for a fee or royalty.

Legal Process

The procedures and activities involved in enforcing the law, including litigation, adjudication, and the application of legal principles in courts.

Intellectual Property

A category of property that includes intangible creations of the human intellect, such as inventions, literary and artistic works, designs, and symbols.