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Which of the Following Transactions Results in a Decrease in Both

Question 54

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.

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