Multiple Choice
The adjustment for an accrued revenue:
A) is necessary because a business often earns revenue before they receive the cash.
B) increases a payable account.
C) decreases a receivable account.
D) is necessary because a business often receives cash before it performs the service.
Correct Answer:
Verified
Correct Answer:
Verified
Q161: The basic defect of cash-basis accounting is
Q162: Sendik's Food Store has the following Adjusted
Q163: A company started the year with $200
Q164: Closing entries:<br>A)are made at the beginning of
Q165: Accounts that relate to a limited period
Q167: The adjustments columns of the Trial Balance
Q168: On October 1,McReady Company paid six months'
Q169: In an unadjusted trial balance,the accounts are
Q170: All of the following accounts are closed
Q171: Prepaid Rent and Unearned Service Revenue are