Start learning →

ACCA Knowledge Level Adjusting Entries — practice questions

Explore 1 free Adjusting Entries questions in ACCA Knowledge Level Financial Accounting. Open each question or exercise to read its content, reference answers and available explanation.

Practise Adjusting Entries with Quill →

Adjusting Entries questions and exercises with answers

Showing questions 1–1 of 1.

Adjusting entries fall into two broad types. Which pairing correctly names them?Read the answer and worked solution →

Worked practice questions

Adjusting entries fall into two broad types. Which pairing correctly names them?

  1. Debits and credits
  2. Deferrals and accruals
  3. Receivables and payables
  4. Revenues and expenses
Show answer and solution

Correct answer: B. Deferrals and accruals

1. There are two types of adjusting entries: deferrals and accruals. 2. Deferrals may be deferred expenses or deferred revenue; accruals may be accrued expenses or accrued revenue. 3. Therefore B is correct. 4. A names entry sides, C names account categories, and D names statement elements, none of which are the two adjusting-entry types. _Source: Jonick, Principles of Financial Accounting (CC BY-SA 4.0), §2.3 "Adjusting Entries", p.57_

Open this question →

How to practise

  1. Choose a Adjusting Entries question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Financial Accounting topics

Ratio AnalysisStatement of Cash FlowsThe Mechanics of the Accounting ProcessInventory ValuationAsset, Liability and Equity AccountsFinancial StatementsAccounting EquationBonds Payable