One major difference between deferral and accrual adjustments is: Multiple Choice accrual adjustments are influenced by estimates of future events and deferral adjustments are not. deferral adjustments are made before taxes and accrual adjustments are made after taxes. deferral adjustments are made monthly and accrual adjustments are made annually. accounts affected by an accrual adjustment always go in the same direction (i.e., both accounts are increased or both accounts are decreased) and accounts affected by a deferral adjustment always go in opposite directions.

One major difference between deferral and accrual adjustments is: Multiple Choice accrual adjustments are influenced by estimates of future events and deferral adjustments are not. deferral adjustments are made before taxes and accrual adjustments are made after taxes. deferral adjustments are made monthly and accrual adjustments are made annually. accounts affected by an accrual adjustment always go in the same direction (i.e., both accounts are increased or both accounts are decreased) and accounts affected by a deferral adjustment always go in opposite directions.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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