The Adjustment to Record the Completion of Services for Which

question 90

Multiple Choice

The adjustment to record the completion of services for which clients had paid in advance would involve which of the following?

• A) a decrease in assets and an increase in equity
• B) a decrease in liabilities and an increase in equity
• C) an increase in assets and a decrease in liabilities
• D) an increase in liabilities and a decrease in equity

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Definitions:

Railroads

A mode of land transportation consisting of a series of vehicles that run along railway tracks, pivotal in the industrialization process and expansion of many countries.

Time Zones

Geographic regions within which the same standard time is used.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by GDP.

Natural Resources

Materials or substances that occur in nature and can be used for economic gain, such as minerals, forests, water, and fertile land.