Which of the Following Best Describes an Accrual Adjustment

question 79

Multiple Choice

Which of the following best describes an accrual adjustment?

• A)It records a transaction in a way that delays or defers the recognition of an expense or revenue.
• B)It is initially recorded as an asset but become expense over time or through normal operations of the business.
• C)It is initially recorded as liabilities but become revenues over time or through normal operations of the business.
• D)It is created when a revenue or expense has been earned or incurred but has not been recorded.

Identify and differentiate between various types of negotiable instruments, including promissory notes, drafts, and checks.

Comprehend the roles and obligations of parties involved in negotiable instruments.

Recognize the conditions under which a negotiable instrument may be transferred or assigned.

Grasp the legal ramifications of signatures, terms, and conditions on negotiable instruments.