If, During an Accounting Period, an Expense Item Has Been

question 16

Multiple Choice

If, during an accounting period, an expense item has been incurred and consumed but not yet paid for or recorded, then the end-of-period adjusting entry would involve

• A) a liability account and an asset account.
• B) an asset or contra-asset and an expense account.
• C) a liability account and an expense account.
• D) a receivable account and a revenue account.