menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting Study Set 19
  4. Exam
    Exam 3: The Accounting Cycle: End of the Period
  5. Question
    The Adjusting Entry for a Deferred Revenue Always Includes a Debit
Solved

The Adjusting Entry for a Deferred Revenue Always Includes a Debit

Question 26

Question 26

True/False

The adjusting entry for a deferred revenue always includes a debit to an asset account and a credit to a revenue account.The debit is to a liability account.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q21: The Retained Earnings account had a beginning

Q22: Prepayments occur when:<br>A)Cash payment (or an obligation

Q23: Under cash-basis accounting,if costs associated with producing

Q24: Making insurance payments in advance is an

Q25: Under cash-basis accounting,if a company provides services

Q27: Adjusting entries are not necessary when cash

Q28: If the beginning balance of Retained Earnings

Q29: The adjusting entry for an accrued revenue

Q30: Which of the following concepts suggests that

Q31: Adjusting entries are unnecessary for transactions that

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines