Multiple Choice
Adjusting entries are used to:
A) Close temporary accounts at year end
B) Close permanent accounts at year-end
C) Bring account balances up to date at year end
D) All the choices are correct
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Sales are recorded under cash basis accounting
Q3: To record adjusting journal entries in QuickBooks,select:<br>A)Company
Q4: Prepaid items for which adjusting entries may
Q5: What is the difference between the cash
Q6: Types of adjusting entries include all of
Q7: The Trial Balance:<br>A)Lists all the company's accounts,all
Q8: Unearned revenue occurs when:<br>A)Customers pay after receiving
Q9: Adjusting entries for accrued expenses typically include
Q10: Adjusting entries for accrued revenues typically include
Q11: What is an asset?<br>A)What remains after the