An Adjusting Journal Entry Contains a Debit to an Expense

question 46

Multiple Choice

An adjusting journal entry contains a debit to an expense account and a credit to an asset account. This is an example of a(n) :

• A)accrued revenue.
• B)deferred revenue.
• C)accrued expense.
• D)deferred expense.

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Definitions:

Adult Supervision

The oversight provided by an adult to monitor, guide, and ensure the safety and well-being of children or teenagers during certain activities or environments.

Peer Group

A group of individuals, usually of a similar age, background, or social status, with whom a person associates and identifies.

Mass Media

Various mediums of communication, such as television, radio, newspapers, and the internet, used to disseminate information to large audiences.

Average Life Expectancy

An estimate of the average number of years an individual or group of people is expected to live, based on statistical averages.