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Which of the following statements about adjusting entries is false? Adjusting entries help ensure that the proper amount of revenue and expense is recognized during

Which of the following statements about adjusting entries is false?

Adjusting entries help ensure that the proper amount of revenue and expense is recognized during the accounting period.

Accruals occur when cash is transferred after goods or services.

Adjusting entries affect balance sheet accounts but not income statement accounts.

Deferrals occur when cash is transferred before goods or services.

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