If adjustments to the financial statements were not made, what would be the effect on the financial results? Question 20 options: The financial statements would present an incomplete and misleading picture of the company's financial performance. There would be little effect because any items not recognized in the reporting period would be recognized in the next reporting period. No effect would result because adjustments do not reflect cash paid or received. There would be no effect because some adjustments increase net income and others decrease it, cancelling each other out