An electronic storefront includes several mechanisms that are needed for conducting the sale. The most common mechanisms include each of the following except

Which of the following entries would be made as the result of the revenue recognition principle?

A) Service Expense 1,000 Service Revenue 1,000 B) Accounts Receivable 1,000 Service Revenue 1,000 C) Salaries Expense 1,000 Accounts Payable 1,000 D) Depreciation Expense 1,000 Accumulated Depreciation 1,000

When a claim is settled by a title insurance company, the company acquires all rights and claims of the insured against any other person who is responsible for the loss. This is known as

A) caveat emptor. B) surety bonding. C) subordination. D) subrogation.