When a service has been performed but no cash has been received, which of the following statements is true? Select one: a. The entry includes a debit to Accounts payable. b. The entry includes a credit to Unearned revenue. c. The entry includes a debit to Accounts receivable. d. No journal entry is made.

Adjusting entries are:

Select one:

a. not necessary if the accounting system is operating properly.

b. made to Statement of Financial Position accounts only.

c. usually required before financial statements are prepared.

d. made whenever management desires to change an account balance.

Failure to prepare an adjusting entry at the end of the period to record an accrued expense would cause:

Select one:

a. profit to be understated.

b. an overstatement of assets and an overstatement of liabilities.

c. no any understatement or overstatement.

d. an understatement of expenses and an understatement of liabilities.