What Effect Will the Following Adjusting Journal Entry Have on the Accounting

question 145

Multiple Choice

What effect will the following adjusting journal entry have on the accounting records?

• A) Increase net income
• B) Increase revenues
• C) Decrease expenses
• D) Decrease net book value

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Definitions:

Defend

To protect from harm or attack, asserting one's position or the validity of a particular standpoint.

Anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome.

Countertransference

A therapist's emotional entanglement with a client, often as a reaction to the client's transference.

Transference

In psychotherapy, the process by which emotions originally associated with one person are unconsciously transferred onto the therapist.