Which type of adjustment occurs when cash is either collected or paid, but the related income or expense is not reportable in the current period? Group of answer choices 1.accrual 2.deferral 3.estimate 4.cull

Which type of adjustment occurs when cash is either collected or paid, but the related income or expense is not reportable in the current period? Group of answer choices 1.accrual 2.deferral 3.estimate 4.cull

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 6MC: Which type of adjustment occurs when cash is either collected or paid, but the related income or...

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Question

Which type of adjustment occurs when cash is either collected or paid, but the related income or expense is not reportable in the current period?

Group of answer choices

1.accrual

2.deferral

3.estimate

4.cull

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