Question
Which of the following best describes adjusting entries? a. They are the same as correcting entries. b. They are optional under generally accepted accounting principles.
- Which of the following best describes adjusting entries?
a.
They are the same as correcting entries.
b.
They are optional under generally accepted accounting principles.
c.
They are rarely needed in large companies.
d.
They are needed to bring accounts up to date and to match revenue and expense.
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
