Which of the Following Correctly Describes the Following Adjusting Journal $\quad$

question 130

Multiple Choice

Which of the following correctly describes the following adjusting journal entry? Accounts receivable
$\quad$ Franchise fees revenue

• A) Total assets do not change.
• B) The transaction is an example of an accrual.
• C)Stockholders' equity decreases.
• D)Net income is not affecteD.Accrued revenues are previously unrecorded revenues that need to be adjusted at the end of the accounting period to reflect the amount earned and the related receivable account.

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The act of expressing disapproval of someone or something based on perceived faults or mistakes.

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Behavioral reactions that follow a predictable or habitual pattern, often developed in response to specific stimuli or situations.

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