简答题\n The accrue revenue is for those transation with timing difference of cash payment incurs before the revenue happening.\n简答题\n The adjusting entry to recognize an unrecorded expense is necessary ____ A、when an expense is paid in advance. B、when an expense has been neither paid nor recorded as of the end of the accounting period. C、whenever an expense remains unpaid at the end of an accounting period. D、because the accountant is likely to forget to pay these unrecorded expenses.\n简答题\n The accounting cycle ends with preparing financial statements.\n简答题\n Voucher is not needed for the adjusting entry.\n简答题\n Under cash basis, no adjustment is needed for the transaction with timing differences.\n简答题\n A firm adjusts its accounts at the end of each month. A bank loan had been obtained on December 1. Accrued interest on the loan at December 31 amounts to $1,200. No interest expense has yet been recorded. This case falls into the timing difference of expense comes first, followed with the cash payment.\n简答题\n A manufacturer adjusts its accounts at the end of each month. The revenue incurs on the last day of December, and the unbilled revenue amounts to $64,000. This case belongs to one type of timing difference, thas is cash happens before the time that revenue needs to be recognized.\n多选题\n Before any month-end adjustments are made, the net income of ABC company is 3,400. After adjusting entries are made for the items listed above, Gannett company's net income is ____ A、121,600. C、126,100.\n简答题\n The adjusting entry to recognize an unrecorded revenue is necessary ____ A、when an revenue is received in advance. B、when a revenue has been neither received nor recorded as of the end of the accounting period. C、whenever a revenue remains unreceived at the end of an accounting period. D、because the accountant is likely to forget to pay these unrecorded revenue.\n简答题\n Under cash basis, no accrual is needed for the adjustment.\n简答题\n The purpose of adjusting entries is to A、adjust the Retained Earnings account for the revenue, expense, and dividends recorded during the accounting period. B、adjust daily the balances in asset, liability, revenue, and expense accounts for the effects of business transactions. C、apply the realization principle and the matching principle to transactions affecting two or more accounting periods. D、prepare revenue and expense accounts for recording the transactions of the next accounting period.\n简答题\n A company needs to accrue all its revenue at the end of every month.\n简答题\n The accounting cycle ends with preparing an after-closing trial balance. \n简答题\n Ajustment for the timing difference should be made at the end of each month for each company.\n简答题\n An elevator company signs the contract with its client on Feb.10, delivers the elevator to its client on April 10th, and receives the payment from its client on May 4th. The Revenue of the elevator under accrual basis should be recognized in ____ A、the month of February. B、the month of April. C、the month of May. D、the month of December.\n多选题\n Before any month-end adjustments are made, the net income of ABC company is 6,800. After adjusting entries are made for the items listed above, Gannett companys net income is ____ A、256,800. C、$243,200. D、None of the above.\n简答题\n Of the following adjusting entries, which one results in an increase in liabilities and the recognition of an expense at the end of an accounting period? A、The entry to accrue salaries owed to employees at the end of the period. B、The entry to record revenue earned but not yet collected or recorded. C、The entry to record earned portion of rent previously received in advance from a tenant. D、The entry to write off a portion of unexpired insurance.\n简答题\n The accrue revenue won't influence the net income.\n简答题\n The net income won't be influenced by the accrual of interest.\n简答题\n Accruing is not needed for the salary owed to the employees who provide the services to the firm for the current period. \n