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NEW QUESTION: 1
NEW QUESTION: 2
An end-of-period adjustment for depreciation of fixed assets involves an entry to an expense and
A. the reduction of a liability
B. the increase of a contra account
C. the decrease of a contra account
D. the increase of a liability
An adjustment for depreciation expense matches expenses with revenues for the period. An expense is incurred and the asset is reduced by increasing the contra account.
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