Which One of the Following Is Not a Justification for Adjusting

question 79

Multiple Choice

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

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

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Definitions:

Catalog Retailer

A business that sells products directly to consumers through catalogs, allowing customers to shop without visiting a physical store.

Directional Array

A configuration of antennas or microphones designed to capture or emit radio or sound waves more effectively in specific directions.

Geographical Structure

An organizational structure where operations are divided based on geographical regions, facilitating focus on local markets or resources.

Local Tastes

Preferences and inclinations specific to people in a certain geographical area, often influencing the products and services offered in that region.