Which of the Following Is an Example of an Accrual

question 221

Multiple Choice

Which of the following is an example of an accrual?

• A) Debit Office Supplies Expense,credit Office Supplies
• B) Debit Wages Expense,credit Wages Payable
• C) Debit Rent Expense,credit Prepaid Rent
• D) Debit Unearned Revenue,credit Revenue from Services

Realize the significance of measuring and analyzing return on assets as a performance indicator.

Understand the purpose and time frame covered by the balance sheet and income statement.

Comprehend the structure and components of the four basic financial statements.

Recognize the role of technology in modern accounting practices.

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Definitions:

Projective Tests

These are psychological assessment tools where individuals respond to ambiguous stimuli, revealing hidden emotions and internal conflicts.

Deliberate Deception

Intentional conduct designed to mislead or deceive someone, often to gain an advantage or to avoid an obligation.

Substantial Evidence

Evidence that is adequate to support a conclusion or justify a decision, often used in legal and regulatory contexts to indicate a reasonable level of proof.

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, often referred to as the "I-knew-it-all-along" phenomenon.