Final answer:
The adjustment statuses that indicate the existence of FTs in accounting are Accrued Expenses, Accrued Revenues, and Deferred Expenses.
Step-by-step explanation:
The adjustment statuses that indicate the existence of FTs in accounting are Accrued Expenses, Accrued Revenues, and Deferred Expenses.
An example of an accrued expense is when a company receives a utility bill but has not yet paid it. The company would record an accrued expense to reflect the liability. An example of an accrued revenue is when a company provides services to a customer but has not yet received payment. The company would record an accrued revenue to reflect the asset.
Deferred expenses, on the other hand, are expenses that are paid in advance and then gradually expensed over time. An example of a deferred expense is prepaid insurance. The company would initially record the payment as an asset and then gradually expense it over the period it covers.