For each transaction select the letter of the type of adjustment that would be required.
-The depreciation on office equipment used during the current year is recorded
A)Deferred expense
B)Deferred revenue
C)Accrued liability
D)Accrued asset

Question

Quizplus · Accepted Answer

Recording the depreciation on office equipment used during the current year is an example of a deferred expense adjustment. This is because the expense (depreciation) relates to an asset's use over time, and the adjustment recognizes the expense incurred during the current period.

For Each Transaction Select the Letter of the Type of Adjustment