Multiple Choice
Which of the following is an example of an accrual?
A) Bookkeeping fees collected but not yet earned
B) Six months' rent paid in advance
C) Interest earned but not yet received
D) Equipment purchased for use in the business
Correct Answer:
Verified
Correct Answer:
Verified
Q37: The post-closing trial balance would not include
Q38: Financial statements cannot be prepared until the
Q39: The cash basis of accounting results in
Q40: In accounting,depreciation refers to the<br>A) allocation of
Q41: Which of the following assets is not
Q43: Wages Payable were $700 at the end
Q44: Formal closing entries ultimately will affect<br>A) the
Q45: Accumulated depreciation is classified as a(n)<br>A) contra-expense
Q46: Accounts Receivable was $750 at the end
Q47: Office Supplies were $1,800 at the end