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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Definitions:

Addicted

A condition characterized by compulsive engagement in rewarding stimuli, despite adverse consequences.

Cigarette Smoking

The act of inhaling and exhaling the smoke produced by burning tobacco in cigarettes, which is harmful to health.

Quitting

The act of stopping or ceasing a habit or activity, often used in the context of giving up harmful habits like smoking.

Weight Loss Strategies

Plans or methods adopted to achieve the goal of reducing body weight.