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When the Family Dog Licks the Faces of the Children

question 5

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When the family dog licks the faces of the children in the family,they laugh and give the dog a treat.When the dog licks the faces of the parents,they scold the dog.As a result,the dog no longer licks the faces of the parents,but continues to lick the faces of the children.The parents' faces would be an example of a(n) _________ for the dog licking their faces:​


Definitions:

Unused Supplies

Supplies that have been purchased but not yet used in the operation of a business.

Prepaid Insurance

An asset account on the balance sheet that represents a payment made for insurance services that have not yet been received or used up within the period of the insurance contract.

Accrued Fees

Fees that have been incurred but not yet paid or recorded by the entity.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

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