Which of the Following Transactions and Events Results in a Decrease

question 73

Multiple Choice

Which of the following transactions and events results in a decrease in both total assets and net income?

• A)The accrual of wages expense at year-end.
• B)Collecting cash from an account receivable.
• C)Recognizing previously recorded deferred revenue as revenue.
• D)Adjustment of the prepaid rent account for rent used during the perioD.Adjusting prepaid rent for rent used during the period reduces the prepaid rent (asset) account and recognizes a rent expense.The rent expense decreases net income.

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Definitions:

Vaginal Suppositories

Medication in solid form designed to be inserted into the vagina where it dissolves and delivers its medicinal effect locally.

Vaginal Infection

An infection in the vagina, characterized by symptoms such as discharge, odor, irritation, and itching, caused by bacteria, yeast, or other microorganisms.

Desired Outcome

The specific, intended result or effect of a treatment plan, intervention, or action.

Beta-Adrenergic Medication

Drugs that mimic the effect of adrenaline on the body, commonly used to treat heart conditions, asthma, and improve heart performance.