Testbank, Question 21 For adjusting entries relating to accrued revenues, the adjusting entry involves a credit to an asset account and a debit to a revenue account. before adjustment, both assets and revenues are understated. if an adjustment is not made, assets will be overstated. a liability-revenue account relationship exists. ady Start Time: 10:31 AM / Remaining: 14 min. ES Testbank Question 26 Which of the following sources of generally accepted accounting principles (GAAP) are NOT developed by the Canadian Accounting Standards Board (ASB)? 5 O GAAP for pension plans O Accounting Standards for Private Enterprises (ASPE) 56 75 30 23 22 1.20 n21 2 O International Financial Reporting Standards (IFRS) O GAAP for not-for-profit entities Question Attempts: 0 20 Y Study Type here to search O c 80