Adjusting Entries Are Required

question 102

Multiple Choice

Adjusting entries are required

• A)because some costs expire with the passage of time, but have not yet been recorded.
• B)when the company's profit is below budget.
• C)when expenses are recorded in the period in which they are incurred.
• D)when revenues are recorded in the period in which they are earned.

---

Definitions:

Reasonable Remedial Measures

Actions or interventions deemed appropriate and fair to correct a problem, address a wrongdoing, or provide relief and justice in a given situation.

Model Rule 3.3

Refers to a specific ethical guideline in legal practice that mandates attorneys to not knowingly make false statements of fact or law to a court or fail to correct false statements of material fact or law previously made.

Model Rule 1.16

A provision within the American Bar Association's Model Rules of Professional Conduct that outlines the circumstances under which a lawyer may withdraw from representing a client.

Withdraw Representation

The act of a lawyer or advocate ceasing to act on behalf of a client in legal proceedings.