Which of the following statements about the need to make accrual adjustments at the end of the accounting period is not correct ?

A. The cash account should be adjusted for the effects of accrued revenues and expenses during the accounting period

B. Since financial statements are prepared at the end of the period the asset and liability account balances should be brought up to date

C. Certain evens occur over time that would be too tedious and time- consuming to record on a daily basis