13. Which of the following is a contra-asset?

1. Dividends
2. Unearned revenue
3. Accumulated depreciation
4. Merchandise Inventory

14. Temporary accounts are:

1. Balance sheet accounts
2. Income statement accounts
3. New accounts
4. Assets

15. What is accrued income?

1. Income earned but, not received
2. Received, but not earned
3. Earned and received
4. Income that has been received

16. What is deferred Income?

1. Earned, but not received
2. Income received, but not earned
3. Income received after was earned
4. None of the above

17. What entry would be made to acknowledge accrued wages?

1. Debit Expense, Credit Cash
2. Debit cash, Credit wages
3. Debit expense, Credit payable
4. Debit payable, Credit cash