Alternative Adjusting Entries Do Not Apply to

question 167

Multiple Choice

Alternative adjusting entries do not apply to

• A) accrued revenues and accrued expenses.
• B) prepaid expenses.
• C) unearned revenues.
• D) prepaid expenses and unearned revenues.

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Definitions:

Incorporated

A legal process used to form a corporate entity or company, recognized separately from its owners with its own legal rights.

Capital Account

An account on a country's balance of payments that records all transactions involving the purchase or sale of assets.

Board Of Directors

A group of individuals elected to represent shareholders and oversee the major decisions and policies of a company.

Par Value

Par Value is the face value of a bond or a stock as stated by the issuing company, which may not reflect the actual market value.