Which of the Following Accounts Would Not Need to Be

question 102

Multiple Choice

Which of the following accounts would not need to be adjusted at year end?

• A)Prepaid Rent.
• B)Owner's Capital.
• C)Equipment.
• D)Unearned Rent Revenue.

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Definitions:

Material Effect

An impact significant enough to influence a decision, action, or the outcome of a situation, often used in legal and financial contexts.

Misrepresentation

The act of providing false, misleading, or inaccurate information with the intent to deceive or mislead.

Mistake

In legal terms, an erroneous belief, at contracting, that certain facts are true.

Fraudulent Misrepresentation

The act of intentionally making false statements to induce another party into a contract, resulting in harm or loss.