Question:
One major difference between deferral and accrual adjustments is?
A. deferral adjustments are influenced by estimates of future events and accrual adjustments are not.
B. deferral adjustments are made after taxes and accrual adjustments are made before taxes.
C. deferral adjustments are made annually and accrual adjustments are made monthly.
D. deferral adjustments involve previously recorded transactions and accruals involve previously unrecorded events.
Business Accounting
A process to record the business transactions is known as the business accounting. It records the income and expenses, keeps the track of financial information, estimates the future revenue and cost, management of activities and operations, etc.
Answer and Explanation:
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Option D is the correct answer.
Deferral adjustments records the journal entry for the transactions which are already recorded in the books of the...
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