Asked by
benjamin matray
on Oct 28, 2024Verified
Which of the following adjusting journal entries is created as the result of an accrual?
A) 
B) 
C) 
D) 
Accrual
An accounting principle that recognizes revenues and expenses when they are incurred, regardless of when cash transactions occur.
Adjusting Journal Entries
Entries made at the end of an accounting period to update balances of revenues and expenses to reflect the correct amounts earned or incurred during a period.
- Learn about the relationship between deferrals, accruals, and adjusting entries.
Verified Answer
SP
Learning Objectives
- Learn about the relationship between deferrals, accruals, and adjusting entries.
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