The Purpose of Adjusting Entries Is to Transfer Net Income

question 50

True/False

The purpose of adjusting entries is to transfer net income and dividends to retained earnings.

---

Definitions:

Informal Assessment

A type of assessment that is less structured and can include observations, interviews, and informal testing to understand a student’s performance.

Assessment Instruments

Tools or methods used to evaluate skills, knowledge, attitudes, or physical condition, ranging from tests and surveys to physical measuring devices.

Genograms

A pictorial display of a person's family relationships and medical history, often used in medicine and social work to visualize complex interactions.

Informal Assessment

An unstructured method of evaluating student learning or performance without standardized tools or criteria.