Accountıng I Deneme Sınavı Sorusu #1313698
Which of the following is not one of the items that adjustment properly measurures?
Net income on the income statement |
Net loss on the income statement |
Assets on the balance sheet |
Credits on the balance sheet |
Liabilities on the balance sheet |
Yanıt Açıklaması:
At the end of the accounting period, an adjusting entry is completed, and it records revenues to the period in which they are earned and expenses to the period in which they occur. Adjusting entries also update the asset and liability accounts. Adjustments are necessary to properly measureseveral items such as:
1. Net income (loss) on the income statement
2. Assets and liabilities on the balance sheet
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