Which of the Following Does Not Correctly Describe an Adjusting

question 38

Multiple Choice

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

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

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Definitions:

Subject Matter

The primary topic or content that is being discussed, studied, or dealt with.

Conclusions

Final parts of documents or speeches summarizing main points or outcomes, and possibly suggesting future actions.

Introduction

The initial section of a speech, piece of writing, or presentation that outlines the purpose and objective.

Business Documents

Written records that are used to communicate, store, or maintain information in a professional setting, such as reports, memos, or contracts.