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Accounts are adjusted at the end of a period to (select all that are correct) Group of answer choices: a) ensure the revenues, expenses, assets,
Accounts are adjusted at the end of a period to (select all that are correct)
Group of answer choices:
a) ensure the revenues, expenses, assets, and liabilities are correctly reported on the financial statements.
b) close the temporary accounts to income summary to prepare them for the next period.
c) bring an asset or liability account balance to its proper amount and to record the related expense or revenue.
d) to ensure that cash is up to date for the statement of cash flows. Flag question: Question 16
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