When Cash Is Received from Customers in the Form of a Refundable

question 114

Multiple Choice

When cash is received from customers in the form of a refundable deposit, the cash account is increased with a corresponding increase in:

• A) A current liability.
• B) Revenue.
• C) Shareholders' equity.
• D) Paid-in capital.

---

Definitions:

Learning Disabilities

Neurologically-based processing problems that can interfere with learning basic skills such as reading, writing, or math, and can also affect higher-level skills such as organization, time planning, and abstract reasoning.

IDEA

An acronym for the Individuals with Disabilities Education Act, U.S. legislation that ensures students with disabilities are provided with Free Appropriate Public Education.

Diagnostic Achievement Test

A standardized test used to assess a student's academic progress and capabilities in specific subject areas.

PSAT/NMSQT

The Preliminary SAT/National Merit Scholarship Qualifying Test, a standardized test that provides firsthand practice for the SAT and offers the chance to qualify for National Merit Scholarships.