Final answer:
Yes, alternative adjusting entries apply to both accrued revenues and accrued expenses in accounting.
Step-by-step explanation:
Yes, the use of alternative adjusting entries can apply to both accrued revenues and accrued expenses in accounting.
Accrued revenues are revenues that have been earned but not yet received in cash or recorded. To account for these, an adjusting entry is made to recognize the revenue and record the corresponding receivable.
Similarly, accrued expenses are expenses that have been incurred but not yet paid or recorded. Adjusting entries are made to recognize the expense and record the corresponding payable.