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Credit to 31. Adjusting entries are prepared ) Ater a trial balance has been prepared...

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Accounting

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Credit to 31. Adjusting entries are prepared ) Ater a trial balance has been prepared and C Aner posting but before a trial balance is prepared. D) Anytime an accountant sees fit to prepare the entries after financial statements are prepared 32. The normal balance of the Accumulated Depreciation account is A) A debit balance B) A credit balance O Either a debit balance or a credit balance. D) There is no normal balance for this account 33. Which of the following is not considered a basic type of adjusting entry? A) B) C) D) An entry to eonvert a liability to a revenue An entry to accrue unpaid expenses An entry to convert an asset to an expense. An entry to convert an asset to a liability. . Adjusting entries are needed: A) Whenever revenue is not received in cash. B) Whenever expenses are not paid in cash. C Only to correct errors in the initial recording of business transactions. ) Whenever transactions affect the revenue or expenses of more than one

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