Accounting 321 Practice Quiz 1 - Drexel

d. To adhere to the accounting constraint of conservatism. 4. When an item of revenue or expense has been earned or incurred but not yet collected or paid, it is normally called a(n) _____ revenue or expense. a. prepaid. b. adjusted. c. estimated. d. none of these. 5. An adjusted trial balance. a. is prepared after the financial statements are ... ................
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