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What is true of adjusting entries? They are not used by large companies. They are prepared to correct wrong entries. They are prepared to bring

What is true of adjusting entries? They are not used by large companies. They are prepared to correct wrong entries. They are prepared to bring revenue and expense accounts up-to- date so that revenues and expenses are matched properly in the period earned and incurred. They are not needed to comply with the Generally Accepted Accounting Principles (GAAP)

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