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sdas [7]
3 years ago
14

In a deferral adjustment for revenues collected in advance that are now earned, ______. a) the liability recorded when cash was

received is decreased by the adjustment for the revenue being earned b) a liability is increased because cash will be paid for an expense in the future the liability recorded c) when cash was received is increased by the adjustment for the revenue being earned d) a liability is decreased because cash is being paid for an expense incurred at the time of the adjustment
Business
1 answer:
frosja888 [35]3 years ago
8 0

Answer:

a) the liability recorded when cash was received is decreased by the adjustment for the revenue being earned

Explanation:

When cash is received for revenue yet to be earned, it is called deferred revenue. The entries posted at this point is a Debit to Cash (an increase in cash balance) and a Credit to Deferred revenue (a liability account). When the revenue gets earned, it get recognized with a Debit to Deferred revenue (to reduce the liability as the obligation has been fulfilled resulting in revenue being earned) and a Credit to Revenue (P/L).

Hence, the right option is a) the liability recorded when cash was received is decreased by the adjustment for the revenue being earned.

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ra1l [238]

Answer:

Letter e is correct. <u>A independent variable.</u>

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3 years ago
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Describe two ways that technology changed people's lives in the 1990s
drek231 [11]
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Technology is a continuous improving branch in society which should always be geared at improving lives of people. 
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3 years ago
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Your car needs a new engine and it cost $1,000. you currently have $600 to invest at 7% compound annually, how long will you hav
sergejj [24]
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$1000 / $600 = 1.07 ^ years

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4 0
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Francis interviews two candidates for an administrative assistant position that will require a fair amount of project management
Sholpan [36]

Answer:

The correct answer is (c)

Explanation:

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