Question 1 (1 point) It is acceptable that some adjusting entries contain estimated amounts. True False Question 3 (1 point) A company's employees are paid every Friday, December 31 is year-end and falls on a Wednesday. The three days (Monday, Tuesday, Wednesday) that the employees have worked up until year-end do not have to be reflected as an expense on the December 31 financial statements since they are not paid until Friday, January 2. True False Question 6 (1 point) . Which of the following items is NOT classified as an adjusting entry? O prepaid expenses O accrued expenses Ounearned revenue O owner's capital Question 7 (1 point) In a service-type business, revenue is considered earned at the end of the month when service is performed at the end of the year when cash is received