Question
Which statement is true for accrued revenue adjusting entries? A : The adjusting entry results in an increase (a debit) to a revenue account and
Which statement is true for accrued revenue adjusting entries?
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A : The adjusting entry results in an increase (a debit) to a revenue account and a decrease (a credit) to an asset account.
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B : Prior to adjustment, assets and revenues are both overstated.
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C : None of choices is correct.
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D : The adjusting entry will increase both an asset account and a revenue account.
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Auditing IT Infrastructures For Compliance
Authors: Martin Weiss, Michael G. Solomon
2nd Edition
1284090701, 978-1284090703
