Question: Chapter 3: The Adjusting Process (Continued) 1. Please explain what accrued expenses are and let us know why these adjustments are necessary. Please provide an

Chapter 3: The Adjusting Process (Continued) 1. Please explain what accrued

Chapter 3: The Adjusting Process (Continued) 1. Please explain what accrued expenses are and let us know why these adjustments are necessary. Please provide an example of an adjusting entry for an accrued expense. 2. Please explain what accrued revenues are and let us know why these adjustments are necessary. Please provide an example of an adjusting entry for accrued revenues. 3. Please explain what an Unearned Revenue account is and why an adjustment may be necessary for Unearned Revenue. Please provide example of an adjusting entry for Unearned Revenue

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b. Where did they come from?

c. What were the reasons for their move? Did they come voluntarily?

5. How do economic situations affect intergroup relations?