If during an accounting period an expense item has been incurred and consumed but not yet pair or recorded, the and-of-period adjusting entry would involve * O A liability and asset acount An asset or contra asset and an expense асcount O A liability and expense account A receivable and revenue account
If during an accounting period an expense item has been incurred and consumed but not yet pair or recorded, the and-of-period adjusting entry would involve * O A liability and asset acount An asset or contra asset and an expense асcount O A liability and expense account A receivable and revenue account
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![If during an accounting period an expense
item has been incurred and consumed but
not yet pair or recorded, the and-of-period
adjusting entry would involve *
O A liability and asset acount
An asset or contra asset and an expense
асcount
O A liability and expense account
O A receivable and revenue account](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d6f34a6-17df-4374-9847-0702fdac4639%2F7a816774-27cb-4ddc-a846-50fc8d030a6b%2Fw1ejo6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If during an accounting period an expense
item has been incurred and consumed but
not yet pair or recorded, the and-of-period
adjusting entry would involve *
O A liability and asset acount
An asset or contra asset and an expense
асcount
O A liability and expense account
O A receivable and revenue account
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