Which of the Following Statements About Adjustments Is Correct

question 26

Multiple Choice

Which of the following statements about adjustments is correct?

• A)Accrued wages are wages owed,but not yet paid,to employees;the accrued wages will need to be recorded with an adjusting entry that increases expenses.
• B)When making an adjustment to recognize supplies used in a period,total assets will not change.
• C)Deferral adjustments are used to update amounts that have been previously deferred on the income statement.
• D)Depreciation is an example of an accrual adjustment.

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