Which of the following accounts would NOT be adjusted at the end of an accounting period?
A) Accounts receivable
B) Unearned revenue
C) Equipment
D) Prepaid insurance

Question

Quizplus · Accepted Answer

Accounts receivable, unearned revenue, and prepaid insurance represent balance sheet accounts that require adjusting entries at the end of an accounting period. These adjustments either recognize revenues or expenses that have been earned or incurred during the period, or update the balance of prepaid expenses or deferred revenues to their current amounts. However, equipment is a fixed asset that is not subject to depreciation or any other periodic adjustments, therefore it does not require an adjusting entry at the end of the period.

Which of the Following Accounts Would NOT Be Adjusted at the End