In the Space Below, State Whether Each Situation Is a Deferral

question 153

Essay

In the space below, state whether each situation is a deferral or an accrual.
______a. Unrecorded interest on savings bonds is $765.
______b. Property taxes that have been incurred but that have not yet been paid or recorded amount to $1,034.
______c. Legal fees of $2,890 were collected in advance. By year end, 70 percent were still unearned.
______d. Prepaid Insurance had a $900 balance prior to adjustment. By year end, 25 percent was still unexpired.
______e. Salaries earned by employees by year end but not yet paid or recorded amounted to $1,655.
______f. Services totaling $690 have been performed but not yet recorded or billed.

Understand the causes and significant events leading up to the American Revolution.

Recognize the roles and perspectives of different groups involved in the prelude to the Revolution, including Paul Revere, the Sons of Liberty, and the Daughters of Liberty.

Comprehend the political and economic strategies employed by the colonies, such as nonimportation movements and the boycott of British goods.

Identify key acts and legislations by the British Parliament and their impact on colonial sentiment.

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Definitions:

Main Component

The primary or most important part of a system.

Conjunct

An element of a conjunction in logic, where each conjunct must be true for the whole conjunction to be true.

Conjunction

In grammar, a word used to connect clauses or sentences or to coordinate words in the same clause. In logic, a compound statement formed with the word "and" to connect two statements, both of which must be true for the whole conjunction to be true.

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty.