Adjusting Entries Are Necessary to

question 9

Multiple Choice

Adjusting entries are necessary to
1. obtain a proper matching of revenue and expense.
2. achieve an accurate statement of assets and equities.
3. adjust assets and liabilities to their fair market value.

• A) 1
• B) 2
• C) 3
• D) 1 and 2

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The ratio of the labor force characterized by lack of employment but ongoing job search efforts.

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