At Times,businesses Require Advance Payments from Customers That Will Be

question 83

Multiple Choice

At times,businesses require advance payments from customers that will be applied to the purchase price when goods are delivered or services provided.These customer advances represent:

• A)Liabilities until the product or service is provided.
• B)A component of stockholders' equity.
• C)Long-term assets until the product or service is provided.

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Definitions:

Conditioned Stimulus

An initially neutral signal that, upon being linked with an unconditioned stimulus, ultimately incites a learned response.

Clicking

In the context of computer usage, it refers to pressing and releasing a button on a mouse or other input device to select or interact with elements on a screen.

Unconditioned Stimulus

A stimulus that naturally triggers a response without prior learning.

Food

Any nutritious substance that people or animals eat or drink to maintain life and growth.