If Throughout an Accounting Period the Fees for Legal Services

question 52

Multiple Choice

If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Fees, the end-of-period adjusting entry to record the portion of those fees that has been earned is:

• A) Debit Cash and credit Legal Fees Earned.
• B) Debit Cash and credit Unearned Legal Fees.
• C) Debit Unearned Legal Fees and credit Legal Fees Earned.
• D) Debit Legal Fees Earned and credit Unearned Legal Fees.
• E) Debit Unearned Legal Fees and credit Accounts Receivable.

Distinguish between the applications of different therapy methods in reducing fear and managing behaviors.

Understand the foundations and principles of psychodynamic therapy.

Recognize the use of medication in treating psychological disorders.

Identify various behavior-therapy methods for improving interpersonal relations.

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Definitions:

Decision Making

A process of selecting the best option among multiple alternatives to achieve an objective or a solution to a problem.

Net Income

A financial term representing the profit left after all expenses, taxes, and costs have been subtracted from total revenue.

Income

Money received, especially on a regular basis, for work or through investments.

Expenses

Costs that a business incurs through its operations to generate revenue, including costs of goods sold, rent, utilities, and salaries.