Adjusting Entries: Definition, Types & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What does the matching principle state?

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1. What are prepaid expenses?

2. What is accrued revenue?

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About This Quiz & Worksheet

This quiz and worksheet will assess your understanding of adjusting entries. You will need to comprehend particular study points, such as matching principles and prepaid expenses.

Quiz & Worksheet Goals

Use these assessment tools to:

  • Understand accrued revenue
  • Define adjusting entries
  • Recognize unearned revenues

Skills Practiced

This worksheet and quiz let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on adjusting entries
  • Information recall - access the knowledge you've gained regarding this accounting process
  • Defining key concepts - ensure that you can accurately define main phrases, such as matching principle and prepaid expenses

Additional Learning

To learn more about adjusting entries, review this lesson on Adjusting Entries: Definition, Types & Examples. The lesson covers these objectives:

  • Define payable
  • Identify accrued expenses
  • Distinguish between accrued and unearned revenue
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