Accountıng I Deneme Sınavı Sorusu #1180724
Which of the following information about adjusting entries is correct?
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Adjusting entries do not debit or credit cash. |
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Adjusting entries update the accounts. |
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Adjusting entries are necessary every time financial statements are prepared. |
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Adjusting entries are needed to measure the period’s net income or net loss. |
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All of the above |
Yanıt Açıklaması:
The process of analysing and updating of accounts at the end of the period before the financial statements are prepared is called the adjusting process. All of the statements given in this case are true.
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