With a deferral, the cash happens before the related activity. activity happens before the related cash. activity and the cash happen at the same time. timing of cash and the activity is not important. The main purpose of an adjustment transaction is to record an account payable when it is owed by the company. record activity when it occurs. record cash when it is received or paid. record an account receivable when it is owed by a customer. Which of the following responsibility centers would likely have the most types of things to manage? Profit center Cost center Investment center Which of the following transactions would increase the current ratio of a company if the ratio is currently 0.95 ? Purchased equipment on account Repaid a bank loan Received cash from customers for services sold in advance