Which of the Following Items Will Require an Adjusting Journal

question 56

Multiple Choice

Which of the following items will require an adjusting journal entry on a company's books?

• A)Outstanding checks
• B)Deposits in transit
• C)Error made by the bank
• D)EFT received from a customer

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Definitions:

Output

The total amount of goods or services produced by a company or country.

Marginal Product Curve

A graphical representation showing how the additional output of a firm varies with the addition of one more unit of a variable input, holding all other inputs constant.

Total Product

The overall quantity of output that a firm produces, usually specified in relation to a given quantity of inputs.

Total Product

The overall quantity of output produced by a firm from a given quantity of inputs, in the context of production theory.