Which of the following is not a type of adjusting entry?
A)depreciation of long-term physical assets
B)allocation of unearned revenue
C)correction of an error in the general journal
D)recording of accrued revenue

Question

Quizplus · Accepted Answer

The correction of an error in the general journal is not a type of adjusting entry. It is a correcting entry that is made when an error is identified in the general ledger, after the financial statements have been prepared. Adjusting entries are made to update the accounts for items that have not been recorded yet or that have been recorded but not properly reflected in the accounts. Depreciation of long-term physical assets, allocation of unearned revenue, and recording of accrued revenue are all examples of adjusting entries.

Which of the Following Is Not a Type of Adjusting