Which of the Following Is an Example of an Accrual

question 221

Multiple Choice

Which of the following is an example of an accrual?

• A) Debit Office Supplies Expense,credit Office Supplies
• B) Debit Wages Expense,credit Wages Payable
• C) Debit Rent Expense,credit Prepaid Rent
• D) Debit Unearned Revenue,credit Revenue from Services

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Definitions:

Endowment Effect

A phenomenon in which people ascribe more value to things merely because they own them.

Examples

Specific instances or cases used to illustrate a principle, method, or phenomenon.

Self-Enhancement

The tendency for individuals to promote their self-image by focusing on positive feedback and minimizing negative feedback.

Culture

The shared beliefs, practices, norms, and values of a group of people that shape their behavior and perspectives.