Which of the Following Statements About Adjusting Entries Is Not

question 116

Multiple Choice

Which of the following statements about adjusting entries is not correct?

• A)Adjustments are needed to ensure that the accounting system includes all of the revenues and expenses of the period.
• B)Adjustments help to ensure the related accounts on the balance sheet and income statement are up to date and complete.
• C)Adjusting entries often affect the cash account.
• D)Adjusting entries always include one balance sheet and one income statement account.

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