For each of the following select Yes or No.

6. An accrual means that revenue or expense is recognized: Before cash is received or paid (yes/no). After cash is received or paid (yes/no).

7. An accrued revenue means: Revenue is earned (yes/no). Cash is received (yes/no).

8. An accrued expense means: Expense is incurred (yes/no). Cash is paid (yes/no).

9 A deferral means that revenue or expense is recognized: Before cash is received or paid (yes/no). After cash is received or paid (yes/no).

10. A deferred revenue means: Revenue is earned (yes/no). Cash is received (yes/no).

13. A deferred expense means: Expense is incurred (yes/no). Cash is paid (yes/no).

18. Accumulated Depreciation is: A contra-asset (yes/no). An expense (yes/no).

19. An adjusted trial Balance is prepared: After adjusting entries (yes/no). Before financial statements (yes/no).

20. A worksheet: Begins with the adjusted trial balance (yes/no). Is required (yes/no).