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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 Correctly Describes the Following Adjusting Journal
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Which of the Following Correctly Describes the Following Adjusting Journal

Question 80

Question 80

Multiple Choice

Which of the following correctly describes the following adjusting journal entry? Which of the following correctly describes the following adjusting journal entry?   A) Total assets decrease. B) Liabilities will increase. C) Stockholders' equity is not affected. D) Net income increases.


A) Total assets decrease.
B) Liabilities will increase.
C) Stockholders' equity is not affected.
D) Net income increases.

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