Adjusting Entries Made at the End of an Accounting Period

question 30

Multiple Choice

Adjusting entries made at the end of an accounting period accomplish all of the following except:

• A) Updating liability and asset accounts to their proper balances.
• B) Assigning revenues to the periods in which they are earned.
• C) Assigning expenses to the periods in which they are incurred.
• D) Assuring that financial statements reflect the revenues earned and the expenses incurred.
• E) Assuring that external transaction amounts remain unchanged.

---

Definitions:

Organize Ideas

The process of arranging thoughts and concepts in a coherent and structured manner.

Adapting

The process of changing or adjusting to fit new conditions or requirements.

Audience Analysis

The process of examining the characteristics of an audience, including demographics, attitudes, and expectations, to tailor communication effectively.

Right Words

Choosing the most accurate and appropriate words for effective communication.