Question
1) Why are adjusting entries needed at the end of an accounting period? 2) Does every adjusting entry have an effect on determining the amount
1) Why are adjusting entries needed at the end of an accounting period?
2) Does every adjusting entry have an effect on determining the amount of net income for a period? Explain.
3) Explain the revenue recognition and matching concepts.
4) Why are closing entries required at the end of an accounting period?
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Construction accounting and financial management
Authors: Steven j. Peterson
2nd Edition
135017114, 978-0135017111
