Question 13 Which one of the following errors causes an understatement of net income? D) Failure to record payment of account payable O B) Failure to accrue wages earned but not yet paid to employees C) Failure to record depreciation expense A) Failure to accrue revenue earned but not billed D Question 7 Adjusting entries are recorded in the general journal but are not posted to the accounts in the general ledger. True False Question 8 Accrued revenues are revenues that have been collected in cash but not yet earned. True False Question 10 The revenue recognition principle dictates that revenue should be recognized in the accounting records A) when cash is received D) in the period that income taxes are paid. C) at the end of the month. B) when it is earned and realized. Question 11 The matching principle matches: B) expenses with revenues. D) creditors with businesses. O C) assets with liabilities. A) customers with businesses. Question 16 3p The Yellow Apple Company's Office Supplies account had a beginning balance of $6.000. During the month purchases office supplies totaling $1,500 were debited to the Office Supplies account. If $2,250 worth of office supplies is still on hand at month-end, what is the proper adjusting entry? AJDr.Office Supplies Expense 2,250/Cr.Office Supplies 2,250 C) Dr.Office Supplies Expense 5,250/Cr.Office Supplies 5,250 B) Dr. Office Supplies 2,250/Cr.Office Supplies Expense 2,250 D) Dr.Office Supplies 5,250/Cr.Office Supplies Expense 5,250 tion 17