Multiple Choice
If an adjusting entry to record accrued revenue was not posted:
A) assets would be understated.
B) revenue would be understated.
C) profit would be understated.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q2: Adjustments for accrued expenses are necessary to
Q3: Depreciation is the allocation of the cost
Q4: Revenue is recognized in the period in
Q5: a)Revenue should be recorded in the accounting
Q6: Under ASPE, the term "depreciation" must be
Q8: Some retail companies use a 52-week period,
Q9: Accrued revenues are also called accrued liabilities
Q10: Revenue is not recorded in the accounting
Q11: Prior to recording adjusting entries, revenues exceed
Q12: Payments of expenses that will benefit more