A hotel provides both goods and services. Which of the following is an example of a good provided by a hotel?
A. Offering a bathrobe that you can purchase to take home with you.
B. Providing clean linens for use during your stay.
C. Offering rooms for rent.
Ans: A. Offering a bathrobe that you can purchase to take home with you.
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Paid 6 months of rental payments to the landlord.
a. Prepaid expense b. Accrued expense c. Unearned revenue d. Accrued revenue e. None of these
In which of the following would a lawyer be most likely to receive payment from a client on the basis of a “contingency fee?”
A. Defending a client who has been charged with a felony. B. Preparing a will for a client. C. Negotiating a contract for a client. D. Representing a client who is injured in a car accident. E. Representing a corporate client who is being sued by an employee for employment discrimination.