Adjusting Entries Are Necessary to

question 21

Multiple Choice

Adjusting entries are necessary to
1. obtain a proper matching of revenue and expense.
2. achieve an accurate statement of assets and equities.
3. adjust assets and liabilities to their fair market value.

• A) 1
• B) 2
• C) 3
• D) 1 and 2

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Definitions:

Scottish National

Typically refers to a person from Scotland or something related to Scottish nationalism, which advocates for Scotland's political autonomy or independence.

Intellectual Disabilities

A term describing significantly below-average intellectual functioning and adaptive behavior, manifesting before the age of 18.

Creative

Characterized by originality of thought or inventiveness; having the ability to create.

Crystallized Intelligence

The ability to use learned knowledge and experience.