of the following accounts would be adjusted at the end of an accounting period?
A) Accounts receivable
B) Accounts payable
C) Cash
D) Prepaid insurance

Question

Quizplus · Accepted Answer

Prepaid insurance is adjusted at the end of an accounting period to reflect the portion of the prepaid amount that has expired or been used up during the period. This adjustment is made to recognize insurance expense for the period and to report the remaining prepaid amount as an asset.

Of the Following Accounts Would Be Adjusted at the End