Question
Hi, please answer the below question for mba 560 financial and managerial accounting. 1. ________ will be increased when a company receives cash before performing
Hi, please answer the below question for mba 560 financial and managerial accounting.
1. ________ will be increased when a company receives cash before performing the services. A. Accumulated Depreciation; B. Unearned Sales Revenue; C. Prepaid Rent; D. Accrued Sales.
2. Adjusting entries: A. close the expense accounts; B. close the revenue accounts; C. adjust cash; D. adjust unearned revenue.
3. The book value of a plant asset is the: A. balance in the accumulated depreciation account; B. cost of the asset less the accumulated depreciation; C. accumulated depreciation less the cost of the asset; D. cost of the asset.
4. Depreciation expense: A. is an estimate; B. can be computed by dividing the cost of the asset by accumulated depreciation; C. is an example of an accrual adjustment; D.
is calculated on a weekly basis.
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