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Accounting
Click to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. Which of the following businesses would be most likely to use the accrual basis of accounting? a. Real estate agent b. Grocery store c. Physician d. Attorney 2. If an accrual is for an expense, the adjusting entry debits an _________ account and credits a(n) ______ account. a. asset: revenue b. unearned revenue: revenue c. expense: asset d. expense: liability
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