Which of the following is an example of a deferral adjusting entry?
A)Accrued expense
B)Accrued revenue
C)Prepaid expense
D)All of these choices are correct.

Name: Which of the following is an example of a deferral adjusting entry? A)Accrued expense B)Accrued revenue C)Prepaid expense D)All of these choices are correct.
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Question

Quizplus · Accepted Answer

A prepaid expense is a deferral adjusting entry because it involves initially recording an expense as an asset and then adjusting it over time as the expense is incurred.

Which of the Following Is an Example of a Deferral