Which of the following accounts could decrease as a result of adjusting entries?
A)Prepaid Insurance.
B)Accumulated Depreciation-Buildings.
C)Rent Expense.
D)Service Revenue.

Question

Quizplus · Accepted Answer

Adjusting entries are made to allocate income and expenses to the correct accounting periods. Prepaid Insurance is an asset account that decreases as the insurance is used up over time.

Which of the Following Accounts Could Decrease as a Result