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4) A deposit received for services to be rendered in the future would be recorded as: a) An accounts receivable. b) Revenue. c) Unearned revenue.

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4) A deposit received for services to be rendered in the future would be recorded as: a) An accounts receivable. b) Revenue. c) Unearned revenue. d) Prepaid expenses. e) Both a and b. I 5) Adjusting journal entries are required to: a) Correct errors in the original recording of a transaction. b) Record expenses from assets that benefit more than one accounting period. c) Record revenue from funds received and recorded as unearned revenue. d) Record unrecorded expenses. e) All of the above

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