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Please circle to indicate your answer to the following questions: In an accrual the cash event...

Please circle to indicate your answer to the following questions:

  1. In an accrual the cash event takes place before or after the income statement event?
  2. In a deferral the cash event takes place before or after the income statement event?
  3. Give an example of a deferred asset.
  4. Give an example of a deferred liability.
  5. Give an example of an accrued asset.
  6. Give an example of an accrued liability.
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Answer #1
Sr. No particulars Answer
1 In an accrual the cash event takes place before or after the income statement event? After
2 In a deferral the cash event takes place before or after the income statement event Before
3 Give an example of a deferred asset. Deferred tax asset
4 Give an example of a deferred liability. Deferred tax liability
5 Give an example of an accrued asset. Accrued interest income
6 Give an example of an accrued liability. Accrued/unpaid interest expenses
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