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:

Socialized Power Orientation

A leadership approach focused on using power for the benefit of others rather than for personal gain.

Exploit

To make use of a resource, situation, or piece of information to gain an advantage or achieve a goal.

Ethical Dilemmas

Situations in which a person must choose between competing moral principles or values, often leading to ethical reflection and decision-making.

Risky Strategy

A plan of action that involves a high degree of uncertainty and potential for negative outcomes, often with the possibility of significant rewards.