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    Financial Accounting Study Set 18
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    Exam 4: Adjustments, Financial Statements, and the Quality of Earnings
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    Which of the Following Does Not Correctly Describe the Following
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Which of the Following Does Not Correctly Describe the Following

Question 15

Question 15

Multiple Choice

Which of the following does not correctly describe the following adjusting journal entry? Which of the following does not correctly describe the following adjusting journal entry?   A) Total assets decrease. B) Retained earnings are not affected. C) Stockholders' equity decreases. D) Net income decreases.


A) Total assets decrease.
B) Retained earnings are not affected.
C) Stockholders' equity decreases.
D) Net income decreases.

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