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5.Prior to the adjusting process, accrued expenses have
a.been paid but have not yet been incurred
b.not yet been incurred, paid, or recorded
c.been incurred but not paid and not recorded
d.been incurred, have not been paid, but have been recorded
6.As time passes, fixed assets other than land lose their capacity to provide useful services. To account for this decrease in usefulness, the cost of fixed assets is systematically allocated to expense through a process called
a.accumulation
b.equipment allocation
c.depreciation
d.matching
7.Which of the following is considered to be an accrued expense?
a.A computer technician has been paid in advance to install software updates as they become available.
b.A computer technician has just signed an agreement with you regarding pricing for future work.
c.A computer technician installed the latest software updates and was paid on the same day.
d.A computer technician has installed the latest software updates, but you have not received an invoice or made payment.
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