Which of the Following Transactions and Events Results in a Decrease

question 29

Multiple Choice

Which of the following transactions and events results in a decrease in both total assets and net income?

• A)The accrual of wages expense at year-end.
• B)Collecting cash from an account receivable.
• C)Recognizing previously recorded deferred revenue as revenue.
• D)Adjustment of the prepaid rent account for rent used during the period.