Which of the Following Transactions and Events Results in an Increase

question 68

Multiple Choice

Which of the following transactions and events results in an increase in liabilities and a decrease in net income?

• A)The accrual of wages expense at year-end.
• B)Collecting cash from a customer for services to be provided in the future.
• C)The accrual of revenue earned at year-end.
• D)Adjustment of the unearned revenue account for revenue earned during the perioD.The accrual of wages expense at year-end recognizes an expense that decreases net income, and creates wages payable which increases liabilities.

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