Recording Interest Earned on an Investment Is an Example of Which

question 80

Multiple Choice

Recording interest earned on an investment is an example of which type of adjusting journal entry?

• A)Accrual entry.
• B)Deferral entry.
• C)Closing entry.
• D)Correcting entry.

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Definitions:

Executed Contract

An executed contract refers to a legal agreement that has been fully performed, meaning all parties involved have fulfilled their contractual obligations.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, in the absence of an actual agreement between the parties involved.

Quasi Contract Theory

A legal concept that allows a court to award damages to a party as if a contract existed, even though one does not, to prevent unjust enrichment.

Nurse Practitioner

A healthcare professional with advanced training, capable of providing some level of care similar to that of a doctor, including diagnosing and treating conditions.