Adjusting Entries Are

question 40

Multiple Choice

Adjusting entries are

• A) not necessary if the accounting system is operating properly.
• B) usually required before financial statements are prepared.
• C) made whenever management desires to change an account balance.
• D) made to statement of financial position accounts only.

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Definitions:

Psychology

The scientific study of the human mind and its functions, especially those affecting behavior in a given context.

Behavior

The actions or reactions of an organism or system, usually in response to stimuli in their environment.

Modern Psychology

The scientific study of the mind and behavior, incorporating contemporary theories and methodologies to understand psychological phenomena.

Wilhelm Wundt

Recognized as the father of experimental psychology, he established the first psychology laboratory in Leipzig, Germany, in 1879, marking the formal beginning of psychology as a scientific discipline.