Which One of the Following Is Not a Justification for Adjusting

question 49

Multiple Choice

Which one of the following is not a justification for adjusting entries?

• A) Adjusting entries are necessary to ensure that the revenue recognition principle is followed.
• B) Adjusting entries are necessary to ensure that the expense recognition principle is followed.
• C) Adjusting entries are necessary to enable financial statements to be in conformity with GAAP.
• D) Adjusting entries are necessary to bring the general ledger accounts in line with the budget.

Understand the significance of cultural issues in psychology.

Recognize the importance of dreams in psychoanalysis.

Identify various forms of psychotherapy and their underlying concepts.

Acknowledge the systems approach in family therapy.

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Definitions:

Allocate Resources

The process of distributing available resources among various competing needs and desires to achieve desired outcomes.

Efficiently

Achieving maximum productivity with minimum wasted effort or expense.

Inflation

The pace at which the full spectrum of goods and services' pricing ascends, weakening the power of acquisition.

Value Of Money

The purchasing power of money, or the amount of goods and services that one unit of money can buy, often influenced by inflation.