Which of the Following Items Is NOT Classified as an Adjusting

question 104

Short Answer

Which of the following items is NOT classified as an adjusting entry? a) prepaid expenses
B) accrued expenses
C) unearned revenues
D) owner's capital

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Definitions:

Complement Method

A mathematical technique used to simplify the process of subtraction by utilizing the "complement" of a number.

Cash Discount

A reduction in an invoice amount available to the buyer for paying all or part of the amount due within a stated period of time.

Invoice Date

The date stated on an invoice; the beginning of the discount period.

Partial Payment

A payment that is made towards a debt or obligation that is less than the full amount owed at that time.