Which of the following accounts would not likely need to be adjusted at year end?
A) Supplies
B) Equipment
C) Prepaid Insurance
D) Unearned Revenue

Name: Which of the following accounts would not likely need to be adjusted at year end? A) Supplies B) Equipment C) Prepaid Insurance D) Unearned Revenue
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Question

Quizplus · Accepted Answer

Equipment is typically not adjusted at year-end because it is a long-term asset and its value is adjusted through depreciation over time, not through year-end adjustments.

Which of the Following Accounts Would Not Likely Need to Be