An Adjusting Journal Entry Contains a Debit to an Expense

question 55

Multiple Choice

An adjusting journal entry contains a debit to an expense account and a credit to a contra account.This is an example of what type of adjusting entry?

• A)Accrued revenue
• B)Deferred revenue
• C)Depreciation expense
• D)Accrued expense

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Definitions:

Substantial Part Test

A tax law guideline used to determine whether a nonprofit organization's lobbying activities are extensive enough to affect its tax-exempt status, by evaluating if a significant portion of its activities are focused on influencing legislation.

Lobbying Disclosure Act

A United States federal law that requires registration and reporting of lobbying efforts directed towards the United States Congress, making the activities of lobbyists more transparent.

1976 Lobby Law

Legislation enacted to regulate lobbying activities, requiring registration and disclosure by lobbyists to ensure transparency and prevent undue influence.

Andreasen

Andreasen is likely a reference to a person's last name. Without additional context, it could refer to individuals in various fields, so a specific definition cannot be provided.