According to the theory of deep ecology:
a) people feel depressed when their home environment changes.
b) human interference with nature is now excessive and must be drastically reduced.
c) human beings have duties not only towards fellow humans but also towards nature.
d) rural life is superior to city life.
Answer: b) human interference with nature is now excessive and must be drastically reduced.
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Which of the following describes the classification and normal balance of the Unearned Rent Revenue account?
a. Asset, debit b. Liability, credit c. Revenues, credit d. Expense, debit
On January 1, Unearned Revenue of Grossman, Inc. had a beginning balance of $1,400. During January, the company earned $700 of the deferred revenue. The company also collected $6,000 from a new customer for services to be performed the following month At the end of January, the Unearned Revenue account should have a balance of $6,000.
Indicate whether the statement is true or false