21.Deferrals are recorded transactions that delay the recognition of an cost or revenue.

a.True

b.False

22.Adjustments because that accruals are necessary to record a revenue that has actually been earned or an cost that has actually beenincurred yet not recorded.

a.True

b.False

23.Unearned revenue is a liability.

a.True

b.False

24.The systematic allocation that land's expense to expense is called depreciation.

a.True

b.False

25.The difference between the balance of a solved asset account and also the balance the its related accumulateddepreciation account is termed the publication value that the asset.

a.True

b.False




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26.The balance in the gathered depreciation account is the amount of the depreciation expense recorded in pastperiods.

a.True

b.False

27.Accumulated depreciation accounts are liability accounts.

a.True

b.False

28.Accumulated depreciation is reported on the earnings statement.

a.True

b.False

29.A contra asset account for Land will certainly normally appear on the balance sheet.

a.True

b.False

30.Depreciation cost is report on the balance sheet together an addition to the connected asset.

a.True

b.False


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Post Navigation← 41 if the adjustment of the unearned rent account at the finish of the duration to recogn 4324369135 earnings of 6 400 space paid because that a five day week on friday prepare the adjusting j 4324367 →

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