Question: Identify the statements that are correct about reclassification year - end adjustments. A reclassification year - end adjustment is required when cash for a revenue

Identify the statements that are correct about reclassification year-end adjustments.
A reclassification year-end adjustment is required when cash for a revenue has been received but the revenue has not
been recognized yet.
A reclassification year-end adjustment is required when a revenue has been earned but not yet received in cash.
A reclassification year-end adjustment is required when cash has been paid for an expense but the expense has not been
incurred yet.
A reclassification year-end adjustment is required when an expense has been incurred but not yet paid for in cash.
Identify the statements that are correct about reclassification year-end adjustments. A

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