An Adjusting Entry That Increases an Asset and Increases a Revenue

question 109

Multiple Choice

An adjusting entry that increases an asset and increases a revenue is known as a(n) :

• A)Accrued expense.
• B)Deferred expense.
• C)Deferred revenue.
• D)Accrued revenue.
• E)Depreciation.

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Definitions:

Mistaken Thinking

Erroneous or false reasoning and beliefs about situations or events.

Interact

To communicate or act together, often impacting each other in the process.

Final Stage

The last phase in a process or series of events, often culminating in a conclusion or resolution.

Group Development

A process that involves the formation, growth, and progression of groups, often including stages such as forming, storming, norming, performing, and adjourning.