Which of the Following Correctly Describes the Following Adjusting Journal

question 27

Multiple Choice

Which of the following correctly describes the following adjusting journal entry?

• A)Total assets do not change.
• B)The transaction is an example of an accrual.
• C)Stockholders' equity decreases.
• D)Net income is not affecteD.Accrued revenues are previously unrecorded revenues that need to be adjusted at the end of the accounting period to reflect the amount earned and the related receivable account.

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Definitions:

Nurture

Nurture refers to the influence of environmental factors, including education, culture, and life experiences, on the development and behavior of an individual, in contrast to genetically inherited traits.

Biological Influences

Biological influences are factors stemming from an organism's physiology and genetics that affect its behavior, development, and functioning.

Cultural Influences

Refers to the impact that the customs, beliefs, and practices of a society have on the behaviors, attitudes, and values of its members.

Ethical Principles

The fundamental guidelines that dictate behavior and actions within a society or profession, often emphasizing fairness, respect, and integrity.