13. which of the following is an example of an adjustment for deferred items?

a prepaid expenses

an accrued revenue

an accrued liability

unbilled training fees

14. of the following steps in the closing process, which represents closing he dividends account?

transferring its balance to income summary

transferring its balance to retained earnings

transferring its balance to a revenue account

transferring its balance to an expense account

15. after the closing process is complete which of the following accounts will most likely have a balance remaining?

a. dividends

b. a revenue account

c. a liability account

d. an expense account

which of the following is a category of account on a calssified balance sheet?

cash

accounts payable

long-term assets

retained earnings

17. Which of the following basic accounting concepts generally requires a company to use the same accounting principles and reporting practices through time?

periodicity

consistency

stable dollar

going concern

18. of the following principles, which one allows companies to prepare only one set of financial statements?

consistency

double entry

general purpose financial statements

business entity