Which of the Following Statements About Adjustments Is Not Correct

question 134

Multiple Choice

Which of the following statements about adjustments is not correct?

• A) When making an adjustment to recognize supplies used in a period, total assets will not change.
• B) 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.
• C) Deferral adjustments are used to update amounts that have been previously deferred on the balance sheet.
• D) Depreciation is an example of a deferral adjustment.

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