The Adjusting Entry to Record an Accrued Revenue Is

question 220

Multiple Choice

The adjusting entry to record an accrued revenue is:

• A) Increase an expense; increase a liability.
• B) Increase an asset; increase revenue.
• C) Decrease a liability; increase revenue.
• D) Increase an expense; decrease an asset.
• E) Increase an expense; decrease a liability.

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Definitions:

Cash Transactions

Financial exchanges or deals where the payment is made in cash at the time of the transaction.