An Adjusting Entry to Record an Unrecorded Liability Usually Includes

question 63

Multiple Choice

An adjusting entry to record an unrecorded liability usually includes a credit to

• A) A liability account
• B) An asset account
• C) A revenue account
• D) An expense account

Know how to use Excel functions and features to retrieve and summarize data in PivotTables.

Recognize how to apply corrections, effects, and styles to pictures in worksheets.

Understand how to insert and format SmartArt graphics and pictures within Excel worksheets.

Understand the factors driving executive compensation and its relation to firm size, performance, fraud, and political connections.

---

Definitions:

Listing

In finance, it usually refers to the process of adding a company's shares to the roster of stocks traded on a particular stock exchange.

Current Liabilities

Short-term financial obligations that a company is expected to pay within one year.

Six Months

is a period of time equal to half a year, often used in financial and operational planning.

Asset Account

An account on a company's balance sheet that represents a resource controlled by the company from which future economic benefits are expected.