Answer Happy

Which of the following is an example of an accrued
revenue?
a. Interest on debt incurred during the year, to be paid in the
first quarter of the
subsequent year
b. Rent paid at the beginning of the year and debited to an expense
account.
c. Depreciation expense
d. Rent earned during the period, to be received at the begining of
the next year
Which of the following statements is correct about closing
entries?
a. Must debit or credit one income statement account and one
statement of financial
position account
b. Include closing the dividends account to income summary
c. All of these choices are correct
d. Are posted to the appropriate general ledger accounts