For each transaction select the letter of the type of adjustment that would be required
-Depreciation on a delivery truck is recorded
A)Deferred expense
B)Deferred revenue
C)Accrued liability
D)Accrued asset

Question

Quizplus · Accepted Answer

Depreciation on a delivery truck is recorded as a deferred expense because it allocates the cost of the truck over its useful life, recognizing the expense gradually rather than immediately at the time of purchase.

For Each Transaction Select the Letter of the Type of Adjustment