1.) _________________ refers to the convention of reporting revenue in the period it is considered to be earned and expenses in the period they are considered to be incurred.
2.) ________________is the term used to describe a book of original entry where transactions are recorded in chronological order.
3.) Entries needed to update the accounts made in preparation for creating financial statements are referrered to as _______________.
4.) In accounting, the term used to name the left side of a T-account is _____________.
5.) Year-end current liabilities and current expenses would be understated as a result of a failure to record which of the following adjusting entries? a.) Accounts receivable that are uncollectible b.) The expiration of prepaid insurance c.) Accrued wages due and unpaid at year-end d.) None of the above