TheaccountUnearnedRevenueisa(n)
A. asset
B. liability
C. revenue
D. expense
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Adjustingentries:
A. areneededtomeasuretheperiod’snetincomeornetloss.
B. updatetheaccounts.
C. donotdebitorcreditcash.
D. alloftheabove.
Anadjustingentrythatdebitsanexpenseandcreditsarelatedliabilityis ________
A. prepaidexpense
B. depreciationexpense
C. accruedexpense
D. cashexpense
Whichofthefollowingaccountsisnotclosedout?
A. Retainedearnings
B. Depreciationexpense
C. Dividends
D. Interestrevenue
TheentrytocloseManagementFeesEarnedwouldbe:
A. ManageentFeesEarnedRetainedearnings
B. RetainedEarningsManagementFeesEarned
C. ManageentFeesEarnedEarnedRevenue
D. ManagementFeesEarneddoesnotneedtobecloseout.