Which of the Following Does Not Correctly Describe an Adjusting

question 2

Multiple Choice

Which of the following does not correctly describe an adjusting journal entry that debits depreciation expense and credits accumulated depreciation?

• A)The entry increases expenses and increases assets.
• B)The entry decreases net income and decreases assets.
• C)The entry increases expenses and decreases retained earnings.
• D)The entry decreases assets and decreases net income.

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Definitions:

Hillary Clinton

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Midterm Election

Elections held midway through the term of the sitting President of the United States, where a significant portion of the Congress and some state governors are elected.

Republicans in Congress

Republicans in Congress are members of the United States Congress who are part of the Republican Party, one of the two major political parties in the United States, often associated with conservative policies.

November 1994

A specific point in time, referring to the month of November in the year 1994, which may be significant for historical, political, or cultural events.