Match the Following Types of Adjusting Entries to the Listed

question 173

Multiple Choice

Match the following types of adjusting entries to the listed situation. (Choices may be used more than once.)
-Insurance is earned in the current period, although collections from customers had been received in a previous period

• A)a deferred (prepaid) expense
• B)a deferred (unearned) revenue
• C)an accrued expense
• D)an accrued revenue

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Definitions:

Tension

The state of being stretched tight, or mental or emotional strain.

Biological Needs

Basic physiological requirements essential for maintaining life, such as food, water, and shelter.

Motives

Internal states or conditions that activate behavior and give it direction towards specific goals or needs.

Equilibrium

Equilibrium is a state of balance or stability within a system, achieved through the equal action of opposing forces.