For Each Transaction Select the Letter of the Type of Adjustment

question 178

Multiple Choice

For each transaction select the letter of the type of adjustment that would be required
-The cost of salaries earned by employees, but not paid at the end of the accounting period is recorded

• A)Deferred expense
• B)Deferred revenue
• C)Accrued liability
• D)Accrued asset

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Definitions:

Dodge Dart

A model of compact car produced by the American automobile manufacturer Dodge, known for its sporty design and performance.

Cashier's Check

A check issued by a bank, drawn from its own funds and signed by a cashier, considered very secure as it guarantees the available amount of cash.

Paying

The act of giving money, goods, or other forms of value in exchange for an item, service, or to fulfill an obligation.

Debt

An amount of money borrowed by one party from another, often with the condition of repayment with additional interest.