The Purposes of the Adjusting Process Are

question 95

Multiple Choice

The purposes of the adjusting process are:

• A) to adjust expenses and revenues to the proper accrual basis.
• B) to adjust asset and liability balances to the proper accrual basis.
• C) to adjust expenses and revenues as well as asset and liability balances to the proper accrual basis.
• D) none of the above.

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Definitions:

Division

In business, a division refers to a distinct part of a company that focuses on a particular market, product line, or service, often operating with a certain degree of independence.

Decimal Point

A symbol used to separate the integer part from the fractional part of a number in decimal notation.

Multiplication

An arithmetic operation that combines two numbers to produce a product.

Division

A mathematical operation where a number, the dividend, is divided by another number, the divisor, to result in a quotient and sometimes a remainder.