For Each Transaction Select the Letter of the Type of Adjustment

question 178

Multiple Choice

For each transaction select the letter of the type of adjustment that would be required
-The cost of salaries earned by employees, but not paid at the end of the accounting period is recorded

• A)Deferred expense
• B)Deferred revenue
• C)Accrued liability
• D)Accrued asset

---

Definitions:

Negative

Characterized by lack or absence, often used in contexts such as negative growth (decline) or negative feedback (criticism).

Income Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in consumers' income.

Quantity Demanded

The amount of a good or service that consumers are willing to buy at a specific price, at a given time.

Own Price Elasticity

A measure of how the quantity demanded of a good responds to a change in the price of that good, keeping other factors constant.