The _____ adjusting entry increases expenses and decreases assets.
A)depreciation
B)wages
C)unearned revenue
D)unrecorded revenue

Name: The _____ adjusting entry increases expenses and decreases assets. A)depreciation B)wages C)unearned revenue D)unrecorded revenue
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Question

Quizplus · Accepted Answer

Depreciation refers to the decrease in value of an asset over time, and this decrease is recognized as an expense on the income statement. As such, the adjusting entry for depreciation increases expenses and decreases assets.

The _____ Adjusting Entry Increases Expenses and Decreases Assets