Which of the Following Does Not Correctly Describe an Adjusting

question 29

Multiple Choice

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

• A) It increases expenses and decreases assets.
• B) It decreases net income and decreases assets.
• C)It increases expenses and increases retained earnings.
• D)It decreases net income and decreases stockholders' equity.

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Definitions:

U.S. Farmers

Individuals or enterprises in the United States engaged in the production of food, feed, fiber, and other goods by systematic raising of plants and animals.

Produce More

Refers to the increase in the quantity of goods or services generated by a company or economy.

Capital

Refers to financial assets or resources that individuals or businesses use to fund their operations and invest in their growth.

Hitler's Germany

Refers to the period of German history from 1933 to 1945 when the country was under the dictatorship of Adolf Hitler and the National Socialist (Nazi) Party.