XYZ Coreceived $3,000 in Payments from Clients for Services Billed in in a Previous

question 80

Multiple Choice

XYZ Co.received $3,000 in payments from clients for services billed in a previous month.Which accounts will be affected and by what amounts under the accrual basis of accounting?

• A) Cash will increase by $3,000 and accounts receivable decrease by $3,000.
• B) Cash will increase by $3,000 and revenues will increase $3,000.
• C) Accounts receivable will increase by $3,000 and revenue will increase by $3,000.
• D) Accounts receivable will increase by $3,000 and cash will increase by $3,000.

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Definitions:

Genetic Drift

A mechanism of evolution that results in change in the genetic makeup of a population by chance or random events rather than by natural selection.

Gene Flow

The transfer of alleles or genes from one population to another, influencing the genetic composition of the receiving population.

Natural Selection

A process by which organisms better adapted to their environment tend to survive and produce more offspring, driving the evolution of species.

Hardy-Weinberg Equilibrium

A principle stating that the genetic variation in a population will remain constant from one generation to the next in the absence of disturbing factors.