Prepaid Rent in the Worksheet's Unadjusted Trial Balance Column Is

question 61

Multiple Choice

Prepaid Rent in the worksheet's unadjusted trial balance column is $6,000.Prepaid Rent in the balance sheet column is $5,000.Which of the following entries would have caused this difference?

• A)a $1,000 debit entry to Prepaid Rent in the worksheet's adjustments column
• B)a $1,000 credit entry to Rent Expense in the worksheet's adjustments column
• C)a $1,000 credit entry to Prepaid Rent in the worksheet's adjustments column
• D)a $1,000 credit entry to Rental Revenue in the worksheet's adjustments column

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Definitions:

Content Theories

Theories that focus on identifying the specific factors, such as needs or desires, that motivate people.

Invisible Hand

A metaphor used by economist Adam Smith to describe the self-regulating behavior of the marketplace.

Free Market

An economic system where prices for goods and services are determined by open market and competition, without intervention from government.

Unseen Forces

Hidden or not immediately apparent factors that can influence outcomes and processes in various contexts.