Which Selection Below Is FALSE Regarding Adjustments

question 20

Multiple Choice

Which selection below is FALSE regarding Adjustments?

• A)Adjustments bring accounts up to date and show the correct account balances on financial reports.
• B)Adjusting entries are dated the first day of the accounting period.
• C)Adjustments are typically made at the end of the accounting period to up date accounts before year-end reports are prepared.
• D)Adjustments are also called Adjusting Entries since we enter Adjustments by making entries into a Journal.

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Definitions:

Executive Function

Higher order cognitive processes that enable an individual to plan, organize, remember details, and manage time and space.

Egocentrism

A cognitive bias where individuals perceive the world primarily from their own perspective, often failing to understand or acknowledge others' viewpoints.

Middle Childhood

The developmental stage from approximately 6 to 12 years of age, encompassing early school years and characterized by significant growth in cognitive, emotional, and social domains.

Universal Sequence

A consistent order or pattern that events, stages, or processes follow across different contexts or populations.