Which of the following adjustments most likely would be reversed?
A)Adjustment to record depreciation expense
B)Adjustment to allocate prepaid insurance to the current period
C)Adjustment to determine supplies expense for the period
D)Adjustment to accrue salaries

Question

Quizplus · Accepted Answer

An adjustment to accrue salaries means that the company has recognized and recorded expenses for salaries that have not yet been paid. This is a temporary adjustment that will be reversed once the actual payment is made. The other options - recording depreciation expense, allocating prepaid insurance, and determining supplies expense - do not involve temporary adjustments that will be reversed.

Which of the Following Adjustments Most Likely Would Be Reversed