matching question and multiple choice 2

Match the folloiwng Revenues earned but not yet received Expenses incurred but not yet paid A cost allocation process Expenses paid before they 1. Interim period 2. Fiscal year 3. 4. Prepaid expenses Unearned revenue are incurred Original cost less accumulated depreciation 5. Adjusted trial balance An accounting period of 12 6. Accrued revenue 7. Depreciaiton 8. Accumulated Depreciation 9. Accrued expenses 10. Carrying amount months or 52 weeks An accounting period of less than 12 months Cash which has been received in advance of services being performed A Trial Balance prepared after the adjusting entries have been made A contra asset account Question 2 (1 point) Adjusting entries are needed every time financial statements are prepared. True False