Which of the following accounts would most likely NOT need to be adjusted at the end of the year?
A) Office Supplies
B) Prepaid Rent
C) Accumulated Depreciation
D) Cash

Question

Quizplus · Accepted Answer

Cash is a permanent account and does not require adjusting entries at the end of the year as the balance will remain the same. Adjusting entries are made for accounts that have a temporary balance and need to be updated to reflect the true balance at the end of the accounting period. Office Supplies, Prepaid Rent, and Accumulated Depreciation are all examples of temporary accounts that require adjusting entries at the end of the year.

Which of the Following Accounts Would Most Likely NOT Need