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:

Total Number

The aggregate or sum count of items or entities in a set or dataset.

Data Set

A collection of data, often presented in tabular form, consisting of variables and observed or measured values.

Class Width

The difference between the upper and lower boundaries of any class (or category) in a frequency distribution.

Frequencies

A rephrased definition: The rate or number of times a particular data value or event occurs within a specific data set or sample.