Adjusting Entries Are Required

question 214

Multiple Choice

Adjusting entries are required

• A) because some costs expire with the passage of time and have not yet been journalized.
• B) when the company's profits are below the budget.
• C) when expenses are recorded in the period in which they are incurred.
• D) when revenues are recorded in the period in which services are performed.

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Definitions:

Inhibited

Refers to a state or condition in which an individual restrains or holds back expressions, impulses, or actions, often due to anxiety or social convention.

Uninhibited

Free from restraint or reservation, allowing one’s self to act or express without holding back.

Kindergarten

An educational establishment or learning environment for young children prior to their entrance into primary school, focusing on basic skills and socialization.

Evolutionary Psychology

A theoretical approach in psychology that attempts to explain mental and psychological traits—such as memory, perception, or language—as adaptations, i.e., as the functional products of natural selection.