Adjustments for revenue and expenses must be done at least once at 0 Select one: O a. the middle of the accounting year. O b. the end of the accounting year. O c. the end of the calendar year. O d. the middle of the calendar year. Which of the following statements is incorrect? Select one: 0 a. Adjustments to prepaid expenses, depreciation, and unearned revenues involve previously recorded assets and liabilities. O b. Accrued expenses and accrued revenues involve assets and liabilities that had not previously been recorded. O c. Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the effects of the passage of time. O d. Adjusting entries can be used to record both accrued expenses and accrued revenues. e. Adjusting entries affect the cash account. o Reversing entries are often used to reverse 0 Select one: O a. adjusting entries. o b. balancing entries. O C. correcting entries. O d. closing entries. How do the adjusting entries differ from other journal entries? Select one: O a. All of the above are true. o b. Adjusting entries are made only at the end of the period. c. Adjusting entries never affect the amount of cash. O d. Adjusting entries always include debits or credits to at least one statement of profit or loss and other comprehensive income account and at least one statement of financial position account