which of the following statements about deferral adjustments are true? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) check all that apply they are used to decrease balance sheet accounts and increase corresponding income statement accounts.unanswered they are used to increase balance sheet accounts and increase corresponding income statement accounts.unanswered every deferral adjustment involves one asset and one expense account.unanswered each deferral adjustment involves one asset and one expense account or one liability and one revenue account.Knowledge Check 01 Accrual adjustments are needed when the business: (You may select more than one answer, Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) pays cash after the expense has been incuired, pays cash before the expense has been incurred. recelves cash after the revenue has been generated. recelves cash before the revenue has been generated. Knowledge Check 01 Which of the following statements about accrual adjustments are true? (You may select more than one answer. Single click the box With the question mark to produce a check mark for a correct answer and-double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) They are used to dectease balance sheet accounts and increase corresponding income statement accounts. They are used to increase balance sheet accounts and increase corresponding income statement accounts. Everyaccrual adjustment involves one liability and one expenseaccount. Each accrusi adjustment involves one asset and one revencie account of one liability and one expense account.
