Which of the Following Journal Entries Was Not Created as the Result

question 114

Multiple Choice

Which of the following journal entries was not created as the result of an accrual?

• A) Interest expense
• \( \quad \)\( \quad \)Interest payable
• B) Accounts receivable
• \( \quad \)\( \quad \)Service revenue
• C) Prepaid Rent
• \( \quad \)Cash
• D) Salaries expense
• \( \quad \)\( \quad \)Salaries payable

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Definitions:

Sole Survivor

An individual who is the only person to emerge alive from a disaster, accident, or other event in which others have perished.

Life Tenant

An individual who has the right to use and benefit from a property during their lifetime, but does not own the property outright.

Trust Investment

A financial arrangement where assets are managed by one party for the benefit of another under a legally established trust.

Trust Instrument

A legal document that outlines the terms and conditions under which a trust operates, specifying how assets placed in trust are to be managed and distributed.