If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.
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Q8: The updating of accounts when financial statements
Q9: The matching principle requires expenses be recorded
Q10: The difference between deferred revenue and accrued
Q11: The system of accounting where revenues are
Q12: Even though GAAP requires the accrual basis
Q14: The revenue recognition principle states that revenue
Q15: Deferrals are recorded transactions that delay the
Q16: An adjusting entry to accrue an incurred
Q17: An adjusting entry would adjust an expense
Q18: The matching principle supports matching expenses with
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