An adjusting entry would adjust revenue so it is reported when cash is received.

A$.$ True

B$.$ False

The matching concept supports matching expenses with the related revenues in the next period.

A$.$ True

B$.$ False

The balance in the credit and debit columns for the adjusted trial balance is $$43,950.$

A$.$ True

B$.$ False

A contra asset account for Land will normally appear in the balance sheet under the land account.

A$.$ True

B$.$ False

The system of accounting where revenues are recorded when the cash is received

and expenses are recorded when they are incurred is called the accrual basis of accounting.

A$.$ True

B$.$ False