Which of the Following Is an Example of a Deferral

question 226

Multiple Choice

Which of the following is an example of a deferral?

• A) Debit Interest Expense,credit Interest Payable
• B) Debit Accounts Receivable,credit Legal Fees Earned
• C) Debit Property Taxes Expense,credit Property Taxes Payable
• D) Debit Depreciation Expense-Truck,credit Accumulated Depreciation-Truck

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Definitions:

Canada

A North American country consisting of ten provinces and three territories, known for its vast landscapes, multicultural heritage, and bilingual status (English and French).

Shrink Wrap

Packaging made of a plastic film that is wrapped around items and then shrunk by heat to form a tight seal.

Electronic Purchase

The process of buying goods or services over the internet through various digital platforms.

Acceptance

An agreement to the terms of an offer, thereby creating a binding contract.