An Adjusting Entry That Credits Salaries Payable Is an Example

question 41

Multiple Choice

An adjusting entry that credits Salaries payable is an example of a(n) :

• A) accrued expense.
• B) unearned revenue.
• C) accrued revenue.
• D) prepaid expense.

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Definitions:

Inverse Demand

A mathematical function that expresses the price of a good or service as a function of the quantity demanded, showing how price changes with demand.

Cournot Duopolists

Firms in a Cournot duopoly compete by choosing quantities rather than prices, assuming the quantity set by the competitor as given while deciding their own.

Total Cost

The total expenses associated with manufacturing goods or services, encompassing both constant and fluctuating costs.

Bean Sprouts

The germinated beans used commonly in Asian cuisines, known for their crunchy texture and nutritional benefits.