Adjusting Journal Entries Are Made at the End of the Period

question 53

Multiple Choice

Adjusting journal entries are made at the end of the period when:

• A) the cash basis of accounting is used for all accounting periods.
• B) cash receipts and payments occur before or after the point in time when revenues and expenses should be recognized under the accrual basis of accounting.
• C) management reports its adjustments on the statement of cash flows.
• D) the company reports revenue in the same period cash is collected.

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