If an expense has been incurred but not yet recorded, then the end-of-period adjusting entry would involve
A)a liability account and an asset account.
B)a liability account and a revenue account.
C)a liability and an expense account.
D)a receivable account and a revenue account.
E)None of these answer choices is correct.

Question

Quizplus · Accepted Answer

If an expense has been incurred but not yet recorded, it means that there is a liability that needs to be recorded. Therefore, the end-of-period adjusting entry would involve a liability account and an expense account.

If an Expense Has Been Incurred but Not Yet Recorded