Match Each Transaction with the Type of Entry That Will

question 229

Multiple Choice

Match each transaction with the type of entry that will be required at April 30,the company's year-end.
-The company has $8,300 in Prepaid Rent at the beginning of April and uses $3,600 of that for its April rent.

• A)Closing entry
• B)Deferral adjusting entry
• C)Accrual adjusting entry

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Definitions:

Marginal Utility Per Dollar

The additional satisfaction obtained from spending one more dollar on a good or service.

Marginal Utility

The supplementary value or enjoyment experienced from the consumption of an additional unit of a good or service.

Money Income

Income received in the form of currency or through electronic transfers, as opposed to goods or services.