Summary of Timing Issues Related to Adjusting Entries ACCOUNTING

Question 1
 Property, Plant, & Equipment, (example Equipment or Buildings) 
A.  All of the “before” and “after” words are correct.
B.  All of the “before” and “after” words are incorrect.
C.  Some of the “before” and “after” words are correct and some of the “before” and “after” words are incorrec
Question 2
Prepaid Assets, (examples Prepaid Rent, Supplies)
A.  All of the “before” and “after” words are correct.
B.  All of the “before” and “after” words are incorrect.
C.  Some of the “before” and “after” words are correct and some of the “before” and “after” words are incorrect
Question 3
Accrued Liabilities, (examples wages payable, interest payable)
A.  All of the “before” and “after” words are correct.
B.  All of the “before” and “after” words are incorrect.
C.  Some of the “before” and “after” words are correct and some of the “before” and “after” words are incorrect
Question 4
Unearned Revenue Liabilities, : (examples Receive Advance Payment for Services or Rent)
A.  All of the “before” and “after” words are correct.
B.  All of the “before” and “after” words are incorrect.
C.  Some of the “before” and “after” words are correct and some of the “before” and “after” words are incorrect
Question 5
Accrued Assets,
A.  All of the “before” and “after” words are correct.
B.  All of the “before” and “after” words are incorrect.
C.  Some of the “before” and “after” words are correct and some of the “before” and “after” words are incorrect.