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Each of the following is a major type of adjusting entries except: a) Prepaid Expenses b) Accrued Revenues c) Accrued Expenses d) Earned Revenue.?

Accounting Cost Accounting Financial Accounting CMA managerial accounting
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Question added by Said Shaban , Accountant , Tri State Materials Testing
Date Posted: 2015/08/08
Upvote (0) Views (15) Followers (4) Answers (4) Report Question
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Sandeep Panchal
by Sandeep Panchal , accountant general , Future Services general trading and contracting co

Prepaid enrty is not a adjusting entry because we have earned in current period for the next year.

Krishnan Kallippal
by Krishnan Kallippal , Manager Finance and Internal Audit , KAEFER L.L.C

Correct answer is Option (A) Prepaid expense

Ahmer Zamir
by Ahmer Zamir , Consultant , Saleem Associates & Co

Prepaid Expenses is not an adjusting entry Option a) is correct

Murtaza Kalabhai
by Murtaza Kalabhai , Accountant , Al Raj Mobile Phones Trading L.L.C

RIGHT ANSWER IS 

OPTION D: EARNED REVENUE.

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