• At the end of an accounting period, adjustments to account balances need to be made via a journal entry. Which of the following is true about the reason adjustments need to be made:
  • A. Adjustments are made because accountants and bookkeepers make errors which require adjustments.
  • B. Adjustments are made in order to make the cash balance equal the reconciled bank statement balance.
  • C. Adjustments are made to match revenue earned in an accounting period with expenses incurred during the same period.
  • D. Adjustments are made to generate the 941 and 940 forms.