Which of the Following Accounts Would Not Likely Need to Be

question 116

Multiple Choice

Which of the following accounts would not likely need to be adjusted at year end?

• A)Office Supplies
• B)Office Equipment
• C)Prepaid Advertising
• D)Unearned Revenue

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Definitions:

Income Statement

A financial document that shows the company's revenue and expenses over a specific period, resulting in net income or loss.

Dollar Amounts

The numerical value that represents a specific monetary figure in terms of dollars.

Component Percentages

A method to express various parts of a financial statement as proportions of a whole to analyze component efficiency and performance.

Quality of Income Ratio

A measure that indicates the amount of earnings that are realized as cash; assessing the ability of a firm to convert its net income into cash.