The adjustment for salaries is necessary:
A) because the employer did not have enough cash to write the paychecks.
B) to recognize the revenue in the period earned.
C) to recognize the expense in the period incurred.
D) only in the month of a holiday.
Correct Answer:
Verified
Q34: Accumulated Depreciation - Buildings should be shown
Q35: Doug paid $3,000 on a one-year insurance
Q36: As supplies are used, they become:
A) inventory.
B)
Q37: When the adjustment for depreciation is made:
A)
Q38: The adjustment for Accrued Salaries would be
Q40: Mortgage Payable is what type of account?
A)
Q41: The perpetual inventory method:
A) is used by
Q42: At the start of the year, Southern
Q43: Mortgage Payable:
A) has a debit balance.
B) has
Q44: This amount does NOT change during the
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