Determine whether the following statements are true or false, then mark the appropriate multiple choice answer.

_____ Prepaid rent and Unearned revenue are accounts that generally need to be adjusted at the end of the accounting period.

_____ Some accounts do not need to be adjusted at the end of the period.

_____ Every adjusting entry will affect both the income statement and the balance sheet.

_____ On September 1, a company paid $9,000 for six months' insurance to cover the period September 1 - February 28. The company's December 31 balance sheet should include Prepaid Insurance of $3,000.

	a. true, false, true, false b. false, true, true, false c. true, false, true, true d. true, true, true, true
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