Which of the following accounts would not likely need to be adjusted at year end?
A)Supplies
B)Equipment
C)Prepaid Insurance
D)Unearned Revenue

Question

Quizplus · Accepted Answer

Equipment is typically adjusted through depreciation over its useful life, not a year-end adjustment for the balance itself. Supplies, Prepaid Insurance, and Unearned Revenue accounts often require adjustments to reflect their actual year-end balances.

Which of the Following Accounts Would Not Likely Need to Be