The Posting of Adjusting Journal Entries Is the Second Activity

question 43

Multiple Choice

The posting of adjusting journal entries is the second activity found in the general ledger system.Adjusting entries fall into several categories.An adjusting entry made at the end of an accounting period that reflects the exchange of cash prior to performance of a related event is called a(n)

• A)accrual entry.
• B)deferral entry.
• C)revaluation entry.
• D)correcting entry.

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Definitions:

Chemical Analyses

The process of examining materials by various techniques to determine their chemical composition.

Alteration Minerals

Minerals that form as a result of chemical changes in rocks, often due to hydrothermal fluid activity.

Iron Ore

A natural mineral or rock from which iron can be profitably extracted, typically rich in iron oxides.

Caldera

A large volcanic crater typically formed by a major eruption leading to the collapse of the mouth of the volcano.