Adjusting Entries That Are Made to Recognize Revenue That Has

question 53

Multiple Choice

Adjusting entries that are made to recognize revenue that has been received but not yet earned are classified as

• A)estimates.
• B)deferrals.
• C)accruals.
• D)revaluations.

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Definitions:

Cognitive Processes

Mental activities involved in acquiring, storing, retrieving, and using information, including perception, memory, reasoning, and problem solving.

Learning

The process of acquiring new, or modifying existing, knowledge, behaviors, skills, values, or preferences through study, experience, or teaching.

Instinct

is an innate, typically fixed pattern of behavior in animals in response to certain stimuli.

Herbert Spencer

A 19th-century English philosopher, biologist, and sociologist who contributed to the development of social Darwinism, emphasizing survival of the fittest in human society.