Multiple Choice
Which of the following transactions results in a decrease in both total assets and net income?
A) The accrual of salaries expense at year-end.
B) Collecting cash from an account receivable.
C) Recognizing revenue which was previously recorded as unearned revenue.
D) Adjustment of the prepaid rent account for rent which expired during the period.
Correct Answer:

Verified
Correct Answer:
Verified
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