Adjusting Entries Can Be Journalized

question 6

Multiple Choice

Adjusting entries can be journalized:

• A)only once per accounting quarter.
• B)only once a month.
• C)as often as necessary.
• D)only once a year at the end of the accounting year.

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Definitions:

Business

Any organization or entrepreneurial entity engaged in commercial, professional, or industrial activities.

Assessed Values

The valuation placed on a property by a public tax assessor for purposes of taxation.

Taxes

Mandatory financial charges or levies imposed by a government on its citizens and businesses to fund public expenditures.

Canadian Dollars

The Canadian dollar is the currency of Canada, often represented by the symbol CAD or simply $.