Which One of the Following Adjustments Decreases Net Income for the Period

question 91

Multiple Choice

Which one of the following adjustments decreases net income for the period?

• A)Recognition of depreciation on plant assets
• B)Recognition of interest on a note receivable
• C)Recognition of services that had been provided to customers but the cash has not yet been received
• D)Recognition of rent as earned that had been received in advance from customers

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Definitions:

Incandescent Bulb

A type of electric light bulb that produces light by heating a filament wire to a high temperature until it glows.

Thomas Edison

An American inventor and businessman known for developing many devices that greatly influenced life around the world, including the phonograph and the electric light bulb.

Knights of Labor

A leading American labor organization in the 19th century that advocated for the rights of workers, including promoting an eight-hour work day and the abolition of child labor.