In Which of the Following Situations Would an Adjusting Entry

question 45

Multiple Choice

In which of the following situations would an adjusting entry be made at the end of January to record an accrued expense?

• A)Ramona's Nursery purchased playground equipment on January 1 with an estimated useful life of six years.
• B)On January 25,Ramona's Nursery hired a college student to drive the minibus;the new employee is to begin work in February.
• C)January 31 falls on a Tuesday;salaries are paid on Friday of each week.
• D)On January 31,Ramona's Nursery paid the interest owed on a note payable for January.

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Definitions:

Collectivism

A social and cultural principle emphasizing the importance of groups and the collective over the preferences and rights of individuals.

Interdependence

A mutual reliance between two or more groups or organisms, often resulting in a symbiotic relationship or collaboration.

Cooperation

The process of groups or individuals working together for a common goal or benefit.

Peri-Urban Communities

Communities located on the outskirts of urban areas, often experiencing a mix of urban and rural characteristics and undergoing rapid changes due to urbanization.