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What is the purpose of adjusting entries? Give two examples of accruals and deferrals.
Adjustment
The process of making small changes to something in order to achieve a desired outcome or improve its performance.
Claim
A statement asserting something to be true, often requiring supporting evidence or argument.
Specific Explanation
A detailed and explicit description or clarification of a subject or concept, leaving little to no room for ambiguity or misunderstanding.
Routine Messages
Communications that are part of the normal day-to-day operations in a business or organization, often standardized and dealing with regular activities.
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