An option is itself a contract to refrain from revoking an offer

Companies striving for global market leadership pursue strategic alliances or collaborative partnerships with foreign companies in order to:

a. revamp the global industry value chain, raise needed financial capital from foreign banks, and wage price wars against foreign competitors. b. exercise better control over efforts to revamp the global industry value chain and combat the bargaining power of foreign suppliers. c. exercise better control over efforts to revamp the global industry value chain, insulate a company from the impact of the five competitive forces, and use the brand names of their partners to make sales to foreign buyers. d. increase the bargaining power of foreign suppliers and help defend against the competitive threat of substitute products produced by foreign rivals. e. get into critical country markets quickly, gain inside knowledge about unfamiliar markets and cultures, and access valuable skills and competencies that are concentrated in particular geographic locations.

Which of the following accounts would appear in the income statement credit column?

A) Service Revenue B) Prepaid Insurance C) Unearned Revenue D) Depreciation Expense