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X Company received $2,000 in advance from customer Y for services to be rendered in the next 2 months. X Company should record the $2,000 as: Prepaid Revenue Unearned Asset Advances to Clients None of the above Upon calculating the Inventory Account in a manufacturing company, the following accounts should be added: * Raw Material, Work in Process and Finished Goods at Market Price Raw Material, Work in Process and Finished Goods at Lower Cost Raw Material, Work in Process and Finished Goods at Lower Cost or Market Price None of the above The cash surrender value of life insurance is a(n): Prepaid insurance account in the current asset section of the balance sheet Long term invetsment account in the balance sheet Cash account in the current asset section of the balance sheet None of the above When a company ceases the activities of one of its segments, this should be reflected in the Schedule of inventory Balance Sheet Statement of Retained Earnings None of the above