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For each of the following select Yes or No. 6. An accrual means that revenue or...



For each of the following select Yes or No.

6. An accrual means that revenue or expense is recognized: Before cash is received or paid (yes/no). After cash is received or paid (yes/no).

7. An accrued revenue means: Revenue is earned (yes/no). Cash is received (yes/no).

8. An accrued expense means: Expense is incurred (yes/no). Cash is paid (yes/no).

9  A deferral means that revenue or expense is recognized: Before cash is received or paid (yes/no). After cash is received or paid (yes/no).

10. A deferred revenue means: Revenue is earned (yes/no). Cash is received (yes/no).

13. A deferred expense means: Expense is incurred (yes/no). Cash is paid (yes/no).

18. Accumulated Depreciation is: A contra-asset (yes/no). An expense (yes/no).

19. An adjusted trial Balance is prepared: After adjusting entries (yes/no). Before financial statements (yes/no).

20. A worksheet: Begins with the adjusted trial balance (yes/no). Is required (yes/no).

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