Adjusting Entries That Should Be Reversed Include Those for Prepaid

question 84

Multiple Choice

Adjusting entries that should be reversed include those for prepaid or unearned items that

• A) create an asset or a liability account.
• B) were originally entered in a revenue or expense account.
• C) were originally entered in an asset or liability account.
• D) create an asset or a liability account and were originally entered in a revenue or expense account.

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Definitions:

Liberia

A country on the West African coast founded by freed American and Caribbean slaves as a colony for African American resettlement.

Haiti

A country on the island of Hispaniola in the Caribbean, notable for being the first black-led republic and the first independent Caribbean state after its revolt against French colonial rule.

Lynch Mob

A group of people who, without legal authority, come together to execute a presumed offender, often by hanging, primarily targeting African Americans.

Springfield, Ohio

A city in the United States known for its historical contributions to industry, education, and the antislavery movement.