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Taya2010 [7]
3 years ago
10

The adjusting entry to record an accrued expense includes a debit to: a. an expense account and a credit to a liability account.

b. an expense account and a credit to a revenue account. c. a liability account and a credit to a revenue account. d. a liability account and a credit to an expense account.
Business
1 answer:
kykrilka [37]3 years ago
6 0

Answer: The correct answer is a. Debit to an expense account and a credit to a liability account.

Explanation: An accrued expense is an expense incurred but yet to be paid for. For instance a consultancy service.

To record this transaction, a debit to the expense account will be recorded to increase expenses and a credit to liability account to increase what is owed.

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Carl Critic has just announced his choices of the worst Hollywood actresses of the year, and Stella Starr has been named the wor
Alekssandra [29.7K]

Answer: No, this was merely Carl's opinion.

Explanation:

Labelling a statement as an opinion generally protects the person who said it from defamation suits however this is not always the case.

If the opinion is based on disclosed and well known facts, the action is free of defamatory or libel charges.

This seems to be the case in this scenario as his column seems to be based on the performances for the year.

Bottomline is, Stella cannot sue Carl for libel as it is his opinion.

7 0
2 years ago
Justin, a real estate salesperson with City Brokerage, received a referral fee after referring a client to Mark, another real es
Ganezh [65]

Answer: Justin's sponsoring broker

Explanation:

From the question, we are informed that Justin, a real estate salesperson with City Brokerage, received a referral fee when he refered a client to Mark, who is another real estate salesperson with City Brokerage.

The person to pay Justin his referral fee will be Justin's sponsoring broker. It should be noted that when another agents gets a referral from an agent, the sponsoring broker is the one who gives the referral fee to the referring agent.

8 0
3 years ago
Which of the following statements about the relationship between the financial market and the
BigorU [14]

Answer:

C

Explanation:

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7 0
2 years ago
Accumulated Depreciation and Depreciation Expense are classified, respectively, as _____. (A) asset, contra liability (B) expens
andrew-mc [135]

Answer:

(D) contra asset, expense

Explanation:

Accumulated depreciation is a contra asset. When preparing ledger accounts, it will be credited hence will have a credit balance.It is also recorded in the balance sheet. On the other hand, depreciation expense is considered an operating expense. It is included as an item in the income statement when calculating a business's net income.

7 0
3 years ago
Which document must the borrower receive at least three days before the signing appointment?
sergiy2304 [10]

The document  the borrower must receive at least three days before the signing appointment is: Closing Disclosure.

Closing disclosure is a loan document that contains all the information about the what loan entails.

This closing disclosure tend to contain the following:

  • The loan terms
  • Transaction details
  • Closing information
  • Projected payments
  • Closing costs
  • Summary of loan transaction etc

Closing disclosure document must be received by the borrower at least three days before the borrower sign the appointment so as to give  the borrower time to go through the document or to review the documents and have good understanding of  the loan terms and condition before signed the appointment.

Inconclusion the document  the borrower must receive at least three days before the signing appointment is: Closing Disclosure.

Learn more about closing disclosure here:brainly.com/question/4375643

5 0
2 years ago
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