Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 24 - No. 34)
Which of the following is an example of an adjusting entry?
Recording a sale on account.
Paying employee salaries.
Depreciating an asset.
Purchasing inventory.
Explanation
Depreciation allocates the cost of an asset over its useful life, and is an adjusting entry at the end of the period.
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