Which of the Following Statements Is Incorrect

question 71

Multiple Choice

Which of the following statements is incorrect?

• A)Prepaid expenses,depreciation,and unearned revenues involve previously recorded assets and liabilities.
• B)Accrued expenses and accrued revenues involve assets and liabilities that were not previously been recorded.
• C)Adjusting entries can be used to record both accrued expenses and accrued revenues.
• D)Prepaid expenses,depreciation,and unearned revenues often require adjusting entries to record the effects of the passage of time.
• E)Adjusting entries affect the cash account.

---

Definitions:

Gerrymandering

The practice of manipulating electoral district boundaries to favor one party or class, often leading to disproportionate political influence.

Single-Member Electoral System

An electoral system in which constituencies elect one representative each to a legislative body.

Proportional Representation

An electoral system in which parties gain seats in proportion to the number of votes cast for them. This system aims to ensure that political representation is more accurately reflected.

Aggregate Interests

The combined concerns, wants or needs of a group of people that are collected to represent or reflect a broader public interest.