Which of the Following Adjusted Balances Would Appear in the Balance

question 66

Multiple Choice

Which of the following adjusted balances would appear in the balance sheet credit column of a worksheet?

• A)Salaries payable
• B)Insurance expense
• C)Equipment
• D)Rent revenue

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Definitions:

Stabilize

To make or become stable or more stable; in economic terms, to reduce fluctuations in economic activity.

Federal Reserve Act

A U.S. legislation in 1913 that established the Federal Reserve System as the central banking system of the United States, designed to provide the country with a safer, more flexible, and more stable monetary and financial system.

Fed

The Federal Reserve System, which is the central banking system of the United States, responsible for monetary policy and financial regulation.

GDP

Gross Domestic Product, the total value of all final goods and services produced within a country in a given period of time.