The Following Accounts Are Up-To-Date and Need No Adjustment at the End

question 38

Multiple Choice

The following accounts are up-to-date and need no adjustment at the end of the period:

• A) cash, common stock and prepaid rent.
• B) prepaid rent, supplies and unearned rent.
• C) cash, dividends and common stock.
• D) cash, dividends and unearned rent.

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Definitions:

Gain From Trade

The advantage or improvement in outcome that countries or individuals achieve through the act of trading goods or services.

Productive

Refers to the effectiveness in producing a significant amount of output per unit of input.

Industries

Sectors of an economy that produce goods or provide services.

Mortgage-backed Securities

Financial instruments that represent claims on the cash flows from pools of mortgage loans, primarily on residential property.