accounting true or false questions

Question

Depreciation Expense can be used in preparing adjusting entries

1.  True
2.  False

1. Wages Payable can be used in preparing adjusting entries.
2.  True
3.  False

Accumulated Depreciation can be use din preparing adjusting entries.

1.  True
2.  False

1. Equipment can be used in preparing adjusting entries.
2.  True
3.  False

Answer 1

The first 3 are true because the purpose of adjusting entries is to record expenses and liabilities incurred, but haven't been paid. The last one is false because equipment doesn't change value unless it is sold or improved.